Assenagon Asset Management S.A. lowered its position in Advanced Drainage Systems, Inc. (NYSE:WMS – Free Report) by 14.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,706 shares of the construction company’s stock after selling 462 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Advanced Drainage Systems were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Advanced Drainage Systems by 5.1% during the second quarter. Geode Capital Management LLC now owns 916,462 shares of the construction company’s stock worth $104,275,000 after purchasing an additional 44,265 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Advanced Drainage Systems during the third quarter worth about $1,383,000. Comerica Bank purchased a new stake in shares of Advanced Drainage Systems during the second quarter worth about $29,937,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Advanced Drainage Systems by 8.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 446,694 shares of the construction company’s stock worth $50,847,000 after acquiring an additional 35,868 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Advanced Drainage Systems during the third quarter worth about $5,349,000. Institutional investors and hedge funds own 84.69% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. KeyCorp dropped their target price on Advanced Drainage Systems from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, November 3rd. Barclays boosted their price objective on Advanced Drainage Systems from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and an average price target of $145.88.
Advanced Drainage Systems Stock Performance
Shares of NYSE WMS opened at $138.03 on Thursday. The company has a current ratio of 2.88, a quick ratio of 1.98 and a debt-to-equity ratio of 1.24. The stock has a 50 day simple moving average of $132.76 and a 200-day simple moving average of $123.99. The company has a market cap of $10.75 billion, a PE ratio of 23.24, a P/E/G ratio of 2.11 and a beta of 1.45. Advanced Drainage Systems, Inc. has a 12-month low of $75.02 and a 12-month high of $145.68.
Advanced Drainage Systems Company Profile
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.
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