Advanced Drainage Systems, Inc. $WMS Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC decreased its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 46.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 28,541 shares of the construction company’s stock after selling 24,556 shares during the quarter. Squarepoint Ops LLC’s holdings in Advanced Drainage Systems were worth $4,480,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WMS. Baird Financial Group Inc. lifted its stake in Advanced Drainage Systems by 560.7% in the 2nd quarter. Baird Financial Group Inc. now owns 128,123 shares of the construction company’s stock worth $20,110,000 after purchasing an additional 108,732 shares in the last quarter. Nykredit A S purchased a new stake in shares of Advanced Drainage Systems in the second quarter valued at approximately $324,000. Corient Private Wealth LP increased its holdings in shares of Advanced Drainage Systems by 2.2% in the second quarter. Corient Private Wealth LP now owns 349,857 shares of the construction company’s stock valued at $54,914,000 after purchasing an additional 7,696 shares during the last quarter. Amundi increased its holdings in shares of Advanced Drainage Systems by 5.1% in the second quarter. Amundi now owns 1,354,610 shares of the construction company’s stock valued at $212,681,000 after purchasing an additional 65,938 shares during the last quarter. Finally, Groupe la Francaise purchased a new position in Advanced Drainage Systems during the second quarter worth approximately $157,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Up 0.8%

Shares of NYSE:WMS opened at $128.12 on Friday. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.39 and a beta of 1.28. Advanced Drainage Systems, Inc. has a 12-month low of $126.39 and a 12-month high of $179.32. The business has a 50-day moving average price of $142.38 and a 200 day moving average price of $143.77. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, August 6th. The construction company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.39. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $991.39 million. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. Advanced Drainage Systems’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.95 earnings per share. Sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Advanced Drainage Systems’s dividend payout ratio is currently 13.82%.

Analyst Ratings Changes

WMS has been the subject of a number of recent research reports. DA Davidson initiated coverage on Advanced Drainage Systems in a research note on Tuesday, August 25th. They issued a “buy” rating and a $190.00 target price for the company. National Bank Financial set a $190.00 price target on shares of Advanced Drainage Systems in a research report on Monday, August 24th. UBS Group upped their price objective on shares of Advanced Drainage Systems from $205.00 to $207.00 and gave the company a “buy” rating in a report on Friday, August 7th. Barclays raised their price objective on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, Stephens raised shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $190.00 to $175.00 in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $188.70.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE: WMS) designs and manufactures water management products for the construction, infrastructure, agriculture and residential markets. Founded in 1966 and headquartered in Hilliard, Ohio, the company is known for its thermoplastic corrugated pipe and related systems used to collect, convey, store and manage stormwater and wastewater.

Its product portfolio includes stormwater detention and infiltration systems, sanitary and septic sewer products, agricultural drainage systems, erosion and sediment control products, and water-quality solutions.