Nicolet Advisory Services LLC Raises Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Nicolet Advisory Services LLC lifted its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,867 shares of the construction company’s stock after acquiring an additional 210 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Advanced Drainage Systems were worth $599,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swedbank AB bought a new position in Advanced Drainage Systems during the first quarter worth about $220,853,000. Boston Partners lifted its stake in shares of Advanced Drainage Systems by 16.9% during the 1st quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock valued at $261,609,000 after buying an additional 219,629 shares in the last quarter. Millennium Management LLC boosted its holdings in Advanced Drainage Systems by 136.2% in the 2nd quarter. Millennium Management LLC now owns 312,393 shares of the construction company’s stock worth $50,105,000 after buying an additional 180,154 shares during the period. Lazard Freres Gestion S.A.S. purchased a new position in Advanced Drainage Systems in the 2nd quarter valued at approximately $28,870,000. Finally, Point72 Asset Management L.P. bought a new stake in Advanced Drainage Systems during the 2nd quarter valued at $21,657,000. 89.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WMS. Barclays cut their price target on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Robert W. Baird reduced their target price on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Stephens reiterated an “equal weight” rating and set a $135.00 price target (down from $170.00) on shares of Advanced Drainage Systems in a research report on Wednesday, November 13th. Loop Capital cut 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 research report on Monday, November 11th. Finally, KeyCorp decreased their target price on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $170.29.

Advanced Drainage Systems Price Performance

WMS stock opened at $131.85 on Friday. The firm has a 50 day simple moving average of $148.95 and a two-hundred day simple moving average of $157.56. The stock has a market cap of $10.22 billion, a PE ratio of 21.00, a P/E/G ratio of 1.19 and a beta of 1.53. Advanced Drainage Systems, Inc. has a one year low of $117.97 and a one year high of $184.27. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.19 and a quick ratio of 2.15.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results 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 during the quarter, compared to analysts’ expectations 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 earned $1.71 EPS. On average, analysts predict that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 0.49%. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 10.19%.

Advanced Drainage Systems 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.