WealthPlan Investment Management LLC Purchases New Shares in Advanced Drainage Systems, Inc. (NYSE:WMS)

WealthPlan Investment Management LLC purchased a new stake in Advanced Drainage Systems, Inc. (NYSE:WMSFree Report) during the third quarter, HoldingsChannel reports. The institutional investor purchased 3,750 shares of the construction company’s stock, valued at approximately $427,000.

A number of other institutional investors also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Advanced Drainage Systems by 94.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 233 shares of the construction company’s stock valued at $27,000 after acquiring an additional 113 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Advanced Drainage Systems in the second quarter valued at about $33,000. Quadrant Capital Group LLC increased its position in shares of Advanced Drainage Systems by 420.7% in the second quarter. Quadrant Capital Group LLC now owns 302 shares of the construction company’s stock valued at $34,000 after acquiring an additional 244 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Advanced Drainage Systems in the second quarter valued at about $40,000. Finally, Belpointe Asset Management LLC increased its position in shares of Advanced Drainage Systems by 47.8% in the first quarter. Belpointe Asset Management LLC now owns 495 shares of the construction company’s stock valued at $42,000 after acquiring an additional 160 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Price Performance

Advanced Drainage Systems stock opened at $162.04 on Monday. Advanced Drainage Systems, Inc. has a 12 month low of $75.02 and a 12 month high of $163.46. The stock’s 50 day moving average is $134.23 and its 200-day moving average is $124.54. The company has a current ratio of 3.03, a quick ratio of 1.98 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $12.62 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 2.58 and a beta of 1.45.

Advanced Drainage Systems (NYSE:WMSGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.44. The business had revenue of $662.37 million during the quarter, compared to analysts’ expectations of $632.69 million. Advanced Drainage Systems had a return on equity of 49.79% and a net margin of 17.65%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. Equities research analysts expect that Advanced Drainage Systems, Inc. will post 5.52 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Thursday, February 29th. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 8.90%.

Analysts Set New Price Targets

A number of research firms recently issued reports on WMS. StockNews.com raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research report on Friday. Stephens boosted their price target on Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays boosted their price target on Advanced Drainage Systems from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Finally, KeyCorp boosted their price target on Advanced Drainage Systems from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.13.

Check Out Our Latest Report on WMS

Advanced Drainage Systems Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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