Brown Brothers Harriman & Co. Purchases 29,471 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Brown Brothers Harriman & Co. raised its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 16.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 203,424 shares of the construction company’s stock after purchasing an additional 29,471 shares during the period. Brown Brothers Harriman & Co. owned about 0.26% of Advanced Drainage Systems worth $32,627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Advanced Drainage Systems by 319.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock worth $26,000 after buying an additional 115 shares in the last quarter. West Oak Capital LLC increased its holdings in shares of Advanced Drainage Systems by 133.3% in the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. raised its position in shares of Advanced Drainage Systems by 1,472.7% in the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock worth $30,000 after acquiring an additional 162 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Advanced Drainage Systems during the 1st quarter worth $32,000. Finally, National Bank of Canada FI bought a new stake in Advanced Drainage Systems during the second quarter valued at about $45,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Oppenheimer reiterated an “outperform” rating and set a $192.00 price objective on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. StockNews.com downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Loop Capital lowered their price objective on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Barclays dropped their target price on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Finally, Robert W. Baird decreased their price target on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.14.

Advanced Drainage Systems Trading Up 2.2 %

WMS opened at $147.58 on Monday. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The company’s 50 day simple moving average is $156.80 and its two-hundred day simple moving average is $163.03. Advanced Drainage Systems, Inc. has a 1-year low of $102.32 and a 1-year high of $184.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.08. The firm had revenue of $815.34 million during the quarter, compared to analyst estimates of $828.00 million. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. Analysts expect that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Friday, August 30th. Advanced Drainage Systems’s dividend payout ratio is presently 9.94%.

Advanced Drainage Systems Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.