Peregrine Capital Management LLC Decreases Position in Advanced Drainage Systems, Inc. $WMS

Peregrine Capital Management LLC cut its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 14.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,628 shares of the construction company’s stock after selling 14,092 shares during the period. Peregrine Capital Management LLC owned approximately 0.11% of Advanced Drainage Systems worth $11,331,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Advanced Drainage Systems by 352.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after buying an additional 176 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of Advanced Drainage Systems by 78.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock valued at $33,000 after acquiring an additional 107 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Advanced Drainage Systems in the 3rd quarter valued at about $36,000. Kestra Advisory Services LLC purchased a new stake in Advanced Drainage Systems during the 4th quarter valued at about $37,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Advanced Drainage Systems during the 4th quarter valued at about $42,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WMS. KeyCorp reaffirmed an “overweight” rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. Jefferies Financial Group assumed coverage on Advanced Drainage Systems in a research note on Thursday, June 11th. They set a “buy” rating and a $175.00 price objective for the company. UBS Group cut their target price on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Zacks Research downgraded shares of Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 17th. Finally, Royal Bank Of Canada lifted their target price on shares of Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.75.

Advanced Drainage Systems Stock Up 1.7%

NYSE WMS opened at $157.07 on Wednesday. Advanced Drainage Systems, Inc. has a 1 year low of $109.63 and a 1 year high of $179.32. The stock has a market capitalization of $12.04 billion, a PE ratio of 28.87, a PEG ratio of 1.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.42 and a quick ratio of 1.35. The business’s 50-day moving average is $141.99 and its 200 day moving average is $148.80.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. The business had revenue of $676.76 million during the quarter, compared to analyst estimates of $651.92 million. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.Advanced Drainage Systems’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 EPS. Sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.20 per share. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, June 1st. Advanced Drainage Systems’s dividend payout ratio is currently 14.71%.

Advanced Drainage Systems Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.