Posted by admin on Jul 30th, 2022

SG Americas Securities LLC cut its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 1.7% during the first quarter, HoldingsChannel.com reports. The firm owned 10,235 shares of the construction company’s stock after selling 177 shares during the period. SG Americas Securities LLC’s holdings in Advanced Drainage Systems were worth $1,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WMS. Credit Agricole S A increased its position in Advanced Drainage Systems by 18.8% during the 4th quarter. Credit Agricole S A now owns 915 shares of the construction company’s stock valued at $125,000 after buying an additional 145 shares in the last quarter. Intrust Bank NA increased its stake in Advanced Drainage Systems by 5.1% during the 4th quarter. Intrust Bank NA now owns 3,626 shares of the construction company’s stock valued at $493,000 after purchasing an additional 177 shares in the last quarter. Xponance Inc. raised its holdings in shares of Advanced Drainage Systems by 4.1% in the first quarter. Xponance Inc. now owns 7,028 shares of the construction company’s stock worth $835,000 after buying an additional 280 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in shares of Advanced Drainage Systems by 5.8% during the fourth quarter. Great Lakes Advisors LLC now owns 5,730 shares of the construction company’s stock worth $780,000 after buying an additional 313 shares during the period. Finally, ETF Managers Group LLC lifted its stake in shares of Advanced Drainage Systems by 5.0% during the fourth quarter. ETF Managers Group LLC now owns 6,618 shares of the construction company’s stock worth $890,000 after buying an additional 315 shares during the period. Hedge funds and other institutional investors own 98.10% of the company’s stock.

In other news, EVP Darin S. Harvey sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $112.55, for a total transaction of $2,251,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,600 shares of the company’s stock, valued at approximately $517,730. The sale was disclosed in a filing with the SEC, which is available at this link. In other Advanced Drainage Systems news, CAO Kevin C. Talley sold 26,500 shares of the stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $90.54, for a total transaction of $2,399,310.00. Following the completion of the transaction, the chief accounting officer now owns 62,025 shares of the company’s stock, valued at $5,615,743.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Darin S. Harvey sold 20,000 shares of Advanced Drainage Systems stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $112.55, for a total value of $2,251,000.00. Following the completion of the sale, the executive vice president now directly owns 4,600 shares in the company, valued at $517,730. The disclosure for this sale can be found here. Over the last three months, insiders have sold 355,426 shares of company stock valued at $38,979,477. Company insiders own 9.33% of the company’s stock.

Shares of NYSE:WMS opened at $118.60 on Friday. The company has a market capitalization of $10.07 billion, a PE ratio of 37.65 and a beta of 1.42. Advanced Drainage Systems, Inc. has a 12-month low of $80.81 and a 12-month high of $138.02. The business has a 50 day moving average of $98.84 and a two-hundred day moving average of $108.21. The company has a current ratio of 2.23, a quick ratio of 0.97 and a debt-to-equity ratio of 1.01.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last released its quarterly earnings results on Thursday, May 19th. The construction company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.72 by $0.23. The company had revenue of $678.20 million for the quarter, compared to analyst estimates of $623.91 million. Advanced Drainage Systems had a net margin of 9.75% and a return on equity of 37.32%. The firm’s revenue was up 52.8% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share. As a group, analysts forecast that Advanced Drainage Systems, Inc. will post 3.83 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 31st. This represents a $0.48 dividend on an annualized basis and a yield of 0.40%. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.11. Advanced Drainage Systems’s dividend payout ratio is currently 15.24%.

WMS has been the subject of a number of research analyst reports. Robert W. Baird reduced their target price on Advanced Drainage Systems from $158.00 to $137.00 and set an “outperform” rating for the company in a research note on Friday, May 20th. Morgan Stanley reduced their price objective on Advanced Drainage Systems from $142.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. Loop Capital dropped their target price on Advanced Drainage Systems from $158.00 to $124.00 and set a “buy” rating on the stock in a research report on Friday, July 8th. TheStreet lowered shares of Advanced Drainage Systems from a “b” rating to a “c+” rating in a research report on Thursday, May 19th. Finally, Barclays dropped their price objective on shares of Advanced Drainage Systems from $138.00 to $135.00 in a report on Thursday, July 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.00.

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

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