Guinness Asset Management LTD Invests $481,000 in Advanced Drainage Systems, Inc. (NYSE:WMS)

Guinness Asset Management LTD bought a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,057 shares of the construction company’s stock, valued at approximately $481,000.

Several other large investors have also recently bought and sold shares of the stock. Swedbank AB bought a new position in shares of Advanced Drainage Systems during the first quarter worth approximately $220,853,000. Vanguard Group Inc. increased its stake in Advanced Drainage Systems by 5.8% in the first quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock valued at $1,251,353,000 after acquiring an additional 395,099 shares during the last quarter. Wellington Management Group LLP increased its stake in Advanced Drainage Systems by 107.4% in the fourth quarter. Wellington Management Group LLP now owns 567,504 shares of the construction company’s stock valued at $79,814,000 after acquiring an additional 293,924 shares during the last quarter. Boston Partners increased its stake in Advanced Drainage Systems by 16.9% in the first quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock valued at $261,609,000 after acquiring an additional 219,629 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Advanced Drainage Systems by 136.2% in the second quarter. Millennium Management LLC now owns 312,393 shares of the construction company’s stock valued at $50,105,000 after acquiring an additional 180,154 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WMS shares. Oppenheimer reissued an “outperform” rating and issued a $192.00 price objective on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. StockNews.com lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird cut their target price on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Loop Capital cut their target price on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Barclays cut their target price on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and a consensus price target of $190.14.

Advanced Drainage Systems Trading Up 1.4 %

Shares of NYSE:WMS traded up $2.07 during mid-day trading on Friday, reaching $153.01. 364,848 shares of the company’s stock were exchanged, compared to its average volume of 508,610. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.28 and a beta of 1.53. The business’s fifty day moving average price is $151.46 and its 200-day moving average price is $161.51. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89. Advanced Drainage Systems, Inc. has a twelve month low of $102.32 and a twelve month high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.08. The company had revenue of $815.34 million for the quarter, compared to analyst estimates of $828.00 million. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. On average, research analysts predict that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 annualized dividend and a yield of 0.42%. Advanced Drainage Systems’s payout ratio is 10.13%.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.