Renaissance Technologies LLC Trims Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Renaissance Technologies LLC reduced its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 40.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 75,500 shares of the construction company’s stock after selling 51,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Advanced Drainage Systems were worth $8,728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Advanced Drainage Systems during the fourth quarter worth $86,185,000. Impax Asset Management Group plc raised its stake in shares of Advanced Drainage Systems by 34.6% during the 4th quarter. Impax Asset Management Group plc now owns 2,530,000 shares of the construction company’s stock valued at $291,723,000 after purchasing an additional 650,052 shares during the period. Amundi lifted its holdings in Advanced Drainage Systems by 72.2% during the 4th quarter. Amundi now owns 854,764 shares of the construction company’s stock worth $98,678,000 after purchasing an additional 358,271 shares in the last quarter. KBC Group NV boosted its stake 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 worth $85,399,000 after purchasing an additional 129,252 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in Advanced Drainage Systems by 32.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 359,111 shares of the construction company’s stock worth $41,513,000 after purchasing an additional 87,297 shares during the period. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Trading Up 0.8 %

Shares of WMS stock opened at $104.44 on Friday. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. The firm has a market cap of $8.10 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The business has a 50-day moving average price of $111.08 and a two-hundred day moving average price of $125.33. Advanced Drainage Systems, Inc. has a 12-month low of $93.92 and a 12-month high of $184.27.

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

Advanced Drainage Systems Announces Dividend

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

Wall Street Analyst Weigh In

WMS has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a “buy” rating and a $134.00 price target on the stock. KeyCorp lowered their target price on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. 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 report on Wednesday, January 8th. Barclays decreased their price target on shares of Advanced Drainage Systems from $149.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Loop Capital dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $153.78.

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.