Oppenheimer Asset Management Inc. raise shares in Advanced Drainage Systems, Inc. (NYSE:WMS)

VaselineSeptember 21, 2024

0 4 minutes read

Oppenheimer Asset Management Inc. increased its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS – Free Report) by 19.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. (SEC). The institutional investor owned 4,081 shares of the construction company’s stock after purchasing an additional 661 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Advanced Drainage Systems were worth $655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WMS. Vanguard Group Inc. boosted its holdings in shares of Advanced Drainage Systems by 5.8% in the first quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock valued at $1,251,353,000 after buying an additional 395,099 shares in the last quarter. Boston Partners raised its stake in Advanced Drainage Systems by 16.9% in the first quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock valued at $261,609,000 after purchasing an additional 219,629 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Advanced Drainage Systems by 4.7% in the second quarter. William Blair Investment Management LLC now owns 1,430,091 shares of the construction company’s stock worth $229,372,000 after purchasing an additional 64,618 shares in the last quarter. Swedbank AB raised its holdings in Advanced Drainage Systems by 2.1% in the second quarter. Swedbank AB now owns 1,308,821 shares of the construction company’s stock worth $209,922,000 after buying an additional 26,581 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Advanced Drainage Systems by 0.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,162,388 shares of the construction company’s stock worth $200,210,000 after purchasing an additional 4,100 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s shares.

The Wall Street analyst weighs in

A number of analysts recently weighed in on WMS shares. Oppenheimer reissued an “outperform” rating and issued a $192.00 price objective on shares of Advanced Drainage Systems in a research report on Thursday, August 15th. Barclays decreased their price target 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. StockNews.com cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Loop Capital decreased their price target on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Robert W. Baird cut their price target on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a report on Friday, 9 August. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Moderate Buy” and a consensus price target of $190.14, according to MarketBeat.

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Check out our latest research report on Advanced Drainage Systems

Price performance of advanced drainage systems

Shares of NYSE:WMS opened at $152.37 on Friday. Advanced Drainage Systems, Inc. has a 12-month low of $102.32 and a 12-month high of $184.27. The company has a current ratio of 2.89, a quick ratio of 1.90, and a debt-to-equity ratio of 1.04. The company has a market cap of $11.81 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.26 and a beta of 1.53. The company’s 50-day moving average is $156.33 and its 200-day moving average is $162.69.

Advanced Drainage Systems (NYSE:WMS – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.08. The firm had revenue of $815.34 million for 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%. On average, sell-side analysts forecast that Advanced Drainage Systems, Inc. will show 6.95 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.16 per share. The ex-dividend date was Friday, August 30. This represents a dividend of $0.64 on an annualized basis and a dividend yield of 0.42%. Advanced Drainage Systems’ payout ratio is currently 9.94%.

About advanced drainage systems

(Free Report)

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