Impax Asset Management Group plc Acquires 650,052 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Impax Asset Management Group plc increased its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 34.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,530,000 shares of the construction company’s stock after acquiring an additional 650,052 shares during the quarter. Advanced Drainage Systems accounts for approximately 1.3% of Impax Asset Management Group plc’s portfolio, making the stock its 23rd largest position. Impax Asset Management Group plc’s holdings in Advanced Drainage Systems were worth $291,723,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WMS. State Street Corp grew its holdings in 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 purchasing an additional 206,105 shares during the period. Swedbank AB boosted its position in shares of Advanced Drainage Systems by 5.8% during the 3rd quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock worth $217,553,000 after purchasing an additional 75,455 shares in the last quarter. Geode Capital Management LLC grew its stake 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 buying an additional 59,158 shares during the period. KBC Group NV increased its position in Advanced Drainage Systems by 21.2% in the 4th quarter. KBC Group NV now owns 738,749 shares of the construction company’s stock valued at $85,399,000 after buying an additional 129,252 shares in the last quarter. Finally, abrdn plc raised its stake in Advanced Drainage Systems by 28.5% during the 3rd quarter. abrdn plc now owns 579,485 shares of the construction company’s stock worth $91,683,000 after buying an additional 128,539 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WMS shares. Stephens reissued an “equal weight” rating and issued a $135.00 price objective on shares of Advanced Drainage Systems in a research note on Friday, February 7th. KeyCorp cut their target price on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. UBS Group upgraded shares of Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Wednesday, January 8th. StockNews.com raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Robert W. Baird reduced their price objective on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus target price of $164.25.

Advanced Drainage Systems Stock Down 2.6 %

WMS stock opened at $114.50 on Monday. The stock has a 50-day simple moving average of $120.01 and a two-hundred day simple moving average of $137.01. Advanced Drainage Systems, Inc. has a twelve month low of $110.75 and a twelve month high of $184.27. The firm has a market capitalization of $8.88 billion, a PE ratio of 19.15, a PEG ratio of 1.13 and a beta of 1.52. 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 issued its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. On average, equities analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.16 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.56%. Advanced Drainage Systems’s payout ratio is currently 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.