AlphaCore Capital LLC Acquires 6,920 Shares of Advanced Drainage Systems, Inc. $WMS

AlphaCore Capital LLC acquired a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) during the third quarter, Holdings Channel reports. The fund acquired 6,920 shares of the construction company’s stock, valued at approximately $877,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Allworth Financial LP purchased a new stake in shares of Advanced Drainage Systems during the second quarter worth $26,000. Avalon Trust Co acquired a new position in Advanced Drainage Systems during the second quarter worth about $42,000. Vega Investment Solutions acquired a new position in Advanced Drainage Systems during the second quarter worth about $50,000. Northwestern Mutual Wealth Management Co. acquired a new position in Advanced Drainage Systems during the second quarter worth about $55,000. Finally, Bessemer Group Inc. grew its stake in Advanced Drainage Systems by 70.3% during the 1st quarter. Bessemer Group Inc. now owns 395 shares of the construction company’s stock valued at $54,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on WMS shares. Robert W. Baird set a $206.00 price objective on shares of Advanced Drainage Systems in a report on Friday, August 7th. DA Davidson lowered their target price on Advanced Drainage Systems from $190.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, November 6th. Oppenheimer restated an “outperform” rating and issued a $180.00 price target (down from $185.00) on shares of Advanced Drainage Systems in a research report on Friday, November 6th. Royal Bank Of Canada cut their target price on Advanced Drainage Systems from $170.00 to $163.00 and set an “outperform” rating for the company in a research note on Friday, November 6th. Finally, UBS Group lifted their price target on Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus price target of $184.40.

Advanced Drainage Systems Stock Performance

Shares of Advanced Drainage Systems stock opened at $125.57 on Friday. The company has a market cap of $9.27 billion, a PE ratio of 23.87, a P/E/G ratio of 1.59 and a beta of 1.30. The business has a 50-day simple moving average of $129.38 and a 200-day simple moving average of $142.42. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.12 and a current ratio of 2.13. Advanced Drainage Systems, Inc. has a one year low of $119.53 and a one year high of $179.32.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, November 5th. The construction company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. Advanced Drainage Systems had a return on equity of 27.88% and a net margin of 12.44%. The business had revenue of $889.41 million for the quarter, compared to the consensus estimate of $921.79 million. During the same quarter in the prior year, the business posted $1.97 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.44 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.20 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.6%. Advanced Drainage Systems’s payout ratio is currently 15.21%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc. (NYSE: WMS) manufactures water-management products for infrastructure, construction, agriculture and residential markets. Its offerings include thermoplastic corrugated pipe and related products used to manage stormwater, drainage and wastewater. The company also provides stormwater storage, treatment and infiltration systems, as well as products for onsite wastewater and septic systems through its Infiltrator Water Technologies business. Its portfolio includes solutions for projects ranging from roadways and commercial developments to residential wastewater applications.