Raymond James Financial Inc. Makes New $2.03 Million Investment in Advanced Drainage Systems, Inc. (NYSE:WMS)

Raymond James Financial Inc. purchased a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,520 shares of the construction company’s stock, valued at approximately $2,025,000.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its position in shares of Advanced Drainage Systems by 8.8% in the third quarter. State Street Corp now owns 2,541,688 shares of the construction company’s stock worth $399,452,000 after buying an additional 206,105 shares in the last quarter. Impax Asset Management Group plc increased its stake in Advanced Drainage Systems by 34.6% in the 4th quarter. Impax Asset Management Group plc now owns 2,530,000 shares of the construction company’s stock worth $291,723,000 after acquiring an additional 650,052 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Advanced Drainage Systems by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,186,878 shares of the construction company’s stock valued at $186,578,000 after acquiring an additional 59,158 shares in the last quarter. KBC Group NV boosted its position in shares of Advanced Drainage Systems by 21.2% during the 4th quarter. KBC Group NV now owns 738,749 shares of the construction company’s stock valued at $85,399,000 after acquiring an additional 129,252 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Advanced Drainage Systems by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 593,562 shares of the construction company’s stock worth $68,616,000 after purchasing an additional 31,510 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Barclays lowered their price objective on shares of Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Loop Capital reduced their target price on Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Stephens restated an “equal weight” rating and set a $135.00 price target on shares of Advanced Drainage Systems in a research report on Friday, February 7th. Finally, UBS Group upgraded Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus target price of $164.25.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock opened at $108.25 on Monday. The firm has a fifty day simple moving average of $116.95 and a two-hundred day simple moving average of $130.17. Advanced Drainage Systems, Inc. has a twelve month low of $101.90 and a twelve month high of $184.27. The company has a market capitalization of $8.40 billion, a PE ratio of 18.10, a P/E/G ratio of 1.13 and a beta of 1.61. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. Research analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio is 10.70%.

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.