Victory Capital Management Inc. Buys 39,593 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Victory Capital Management Inc. raised its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 31.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 164,190 shares of the construction company’s stock after purchasing an additional 39,593 shares during the quarter. Victory Capital Management Inc. owned 0.21% of Advanced Drainage Systems worth $25,804,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in WMS. Swedbank AB bought a new position in shares of Advanced Drainage Systems during the 1st quarter worth about $220,853,000. Vanguard Group Inc. lifted its stake in Advanced Drainage Systems by 5.8% during the first quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock worth $1,251,353,000 after purchasing an additional 395,099 shares during the period. Boston Partners boosted its holdings in Advanced Drainage Systems by 16.9% during the first quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock valued at $261,609,000 after purchasing an additional 219,629 shares in the last quarter. Millennium Management LLC grew its stake in shares of Advanced Drainage Systems by 136.2% in the 2nd quarter. Millennium Management LLC now owns 312,393 shares of the construction company’s stock valued at $50,105,000 after purchasing an additional 180,154 shares during the period. Finally, Lazard Freres Gestion S.A.S. acquired a new position in shares of Advanced Drainage Systems in the 2nd quarter worth approximately $28,870,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Price Performance

Shares of WMS stock opened at $131.42 on Monday. Advanced Drainage Systems, Inc. has a 1 year low of $116.98 and a 1 year high of $184.27. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97. The firm’s 50 day moving average is $150.26 and its 200-day moving average is $158.76. The firm has a market capitalization of $10.19 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.19 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.23). The firm had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.71 EPS. Sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 annualized dividend and a yield of 0.49%. Advanced Drainage Systems’s dividend payout ratio is currently 10.19%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WMS. KeyCorp decreased their price target on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Oppenheimer reduced their target price on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Stephens reiterated an “equal weight” rating and set a $135.00 target price (down previously from $170.00) on shares of Advanced Drainage Systems in a research report on Wednesday, November 13th. Robert W. Baird reduced their price target on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Finally, Loop Capital dropped their price objective on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.29.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.