Daiwa Securities Group Inc. Cuts Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Daiwa Securities Group Inc. cut its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 19.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,030 shares of the construction company’s stock after selling 4,400 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Advanced Drainage Systems were worth $2,834,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WMS. West Oak Capital LLC boosted its position in shares of Advanced Drainage Systems by 133.3% during the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Advanced Drainage Systems by 1,472.7% in the second quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock valued at $30,000 after purchasing an additional 162 shares during the period. National Bank of Canada FI purchased a new stake in Advanced Drainage Systems during the second quarter worth about $45,000. Huntington National Bank grew its position in Advanced Drainage Systems by 123.1% during the third quarter. Huntington National Bank now owns 386 shares of the construction company’s stock worth $61,000 after buying an additional 213 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Advanced Drainage Systems by 65.2% in the second quarter. GAMMA Investing LLC now owns 451 shares of the construction company’s stock valued at $72,000 after buying an additional 178 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Price Performance

NYSE:WMS opened at $133.27 on Thursday. Advanced Drainage Systems, Inc. has a 12-month low of $119.25 and a 12-month high of $184.27. The firm has a market cap of $10.33 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The company’s 50-day moving average is $148.30 and its two-hundred day moving average is $156.93. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $1.71 EPS. Research analysts expect that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 annualized dividend and a yield of 0.48%. Advanced Drainage Systems’s payout ratio is currently 10.19%.

Analyst Upgrades and Downgrades

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

About Advanced Drainage Systems

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.