Posted by admin on Jun 13th, 2022

Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) shares hit a new 52-week low on Monday . The stock traded as low as $91.69 and last traded at $91.73, with a volume of 10873 shares traded. The stock had previously closed at $96.45.

Several equities research analysts have recently weighed in on WMS shares. Robert W. Baird lowered their price target on shares of Advanced Drainage Systems from $158.00 to $137.00 and set an “outperform” rating for the company in a research report on Friday, May 20th. StockNews.com started coverage on shares of Advanced Drainage Systems in a report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley cut their price objective on shares of Advanced Drainage Systems from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, May 20th. Barclays cut their price objective on shares of Advanced Drainage Systems from $162.00 to $138.00 and set an “overweight” rating on the stock in a research note on Friday, May 20th. Finally, TheStreet lowered shares of Advanced Drainage Systems from a “b” rating to a “c+” rating in a research note on Thursday, May 19th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Advanced Drainage Systems presently has a consensus rating of “Buy” and a consensus target price of $143.75.

The company’s 50 day moving average price is $106.67 and its two-hundred day moving average price is $116.70. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.23 and a quick ratio of 0.97. The stock has a market capitalization of $7.66 billion, a PE ratio of 29.24 and a beta of 1.36.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last announced its quarterly earnings results on Thursday, May 19th. The construction company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.18). Advanced Drainage Systems had a net margin of 9.75% and a return on equity of 37.32%. The company had revenue of $678.20 million for the quarter, compared to analyst estimates of $623.91 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. Advanced Drainage Systems’s revenue was up 52.8% on a year-over-year basis. Analysts forecast that Advanced Drainage Systems, Inc. will post 3.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be paid a $0.12 dividend. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 0.53%. The ex-dividend date is Tuesday, May 31st. Advanced Drainage Systems’s payout ratio is currently 15.24%.

In related news, EVP Darin S. Harvey sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $112.55, for a total value of $2,251,000.00. Following the transaction, the executive vice president now owns 4,600 shares in the company, valued at $517,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anil Seetharam sold 108,926 shares of the stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $108.69, for a total transaction of $11,839,166.94. Following the completion of the sale, the director now directly owns 6,054,573 shares of the company’s stock, valued at approximately $658,071,539.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 328,926 shares of company stock worth $36,580,167. Corporate insiders own 9.33% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in WMS. Franklin Resources Inc. raised its stake in shares of Advanced Drainage Systems by 5.0% during the third quarter. Franklin Resources Inc. now owns 18,571 shares of the construction company’s stock valued at $2,008,000 after purchasing an additional 883 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in Advanced Drainage Systems during the 3rd quarter valued at about $958,000. Neuberger Berman Group LLC lifted its holdings in shares of Advanced Drainage Systems by 313.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 127,251 shares of the construction company’s stock valued at $13,755,000 after buying an additional 96,459 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Advanced Drainage Systems by 3.5% during the 3rd quarter. Voya Investment Management LLC now owns 25,435 shares of the construction company’s stock valued at $2,751,000 after buying an additional 856 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Advanced Drainage Systems by 23.6% during the 3rd quarter. Morgan Stanley now owns 233,242 shares of the construction company’s stock valued at $25,231,000 after buying an additional 44,462 shares during the last quarter. Hedge funds and other institutional investors own 98.10% of the company’s stock.

Advanced Drainage Systems Company Profile (NYSE:WMS)

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. It operates through Pipe, International and Infiltrator, and Allied Products & Other segments.

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