Icon Advisers Inc. Co. Sells 3,345 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Icon Advisers Inc. Co. lowered its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 11.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,652 shares of the construction company’s stock after selling 3,345 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Advanced Drainage Systems were worth $2,850,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. MML Investors Services LLC raised its position in Advanced Drainage Systems by 9.5% during the third quarter. MML Investors Services LLC now owns 2,607 shares of the construction company’s stock worth $410,000 after acquiring an additional 226 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Advanced Drainage Systems by 4.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 20,249 shares of the construction company’s stock worth $3,182,000 after buying an additional 819 shares during the last quarter. Geode Capital Management LLC raised its stake in Advanced Drainage Systems by 5.2% in the third 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. Anchor Investment Management LLC lifted its position in shares of Advanced Drainage Systems by 31.8% in the third quarter. Anchor Investment Management LLC now owns 2,011 shares of the construction company’s stock valued at $316,000 after buying an additional 485 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Advanced Drainage Systems during the 4th quarter worth approximately $230,000. 89.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WMS shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Advanced Drainage Systems in a research report on Tuesday, April 1st. They issued a “buy” rating and a $134.00 price objective on the stock. Loop Capital reduced their price target on Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, February 7th. StockNews.com cut Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, April 1st. Barclays reduced their target price on shares of Advanced Drainage Systems from $149.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, KeyCorp dropped their price objective on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.78.

Advanced Drainage Systems Trading Up 1.8 %

NYSE:WMS opened at $105.31 on Monday. The firm has a fifty day simple moving average of $112.30 and a two-hundred day simple moving average of $126.37. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $184.27. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.13 and a beta of 1.48. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, February 6th. The construction company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. Analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.16 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.61%. Advanced Drainage Systems’s payout ratio is 10.70%.

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.