Verition Fund Management LLC Acquires Shares of 41,636 Advanced Drainage Systems, Inc. (NYSE:WMS)

Verition Fund Management LLC bought a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the third quarter, HoldingsChannel reports. The institutional investor bought 41,636 shares of the construction company’s stock, valued at approximately $6,544,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB lifted its holdings in Advanced Drainage Systems by 5.8% in the 3rd quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock worth $217,553,000 after buying an additional 75,455 shares in the last quarter. Advantage Alpha Capital Partners LP purchased a new position in Advanced Drainage Systems in the third quarter valued at about $8,540,000. Assenagon Asset Management S.A. grew its stake in Advanced Drainage Systems by 800.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 18,353 shares of the construction company’s stock valued at $2,944,000 after purchasing an additional 16,315 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Advanced Drainage Systems during the 2nd quarter valued at approximately $2,096,000. Finally, Rathbones Group PLC raised its position in shares of Advanced Drainage Systems by 4.3% in the 2nd quarter. Rathbones Group PLC now owns 206,970 shares of the construction company’s stock valued at $33,196,000 after purchasing an additional 8,468 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $135.29 on Monday. The company has a market cap of $10.49 billion, a P/E ratio of 21.54, a PEG ratio of 1.22 and a beta of 1.48. The business has a 50 day moving average of $147.19 and a two-hundred day moving average of $156.23. Advanced Drainage Systems, Inc. has a 52 week low of $119.26 and a 52 week high of $184.27. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The company had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. During the same quarter in the prior year, the firm earned $1.71 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.16 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.47%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 10.19%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays decreased their price target on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Loop Capital dropped their target price on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Oppenheimer reduced their price target on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. KeyCorp lowered their price objective on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Robert W. Baird reduced their target price on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.29.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.