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Advanced Drainage Systems, Inc. (NYSE:WMS - Get Rating)'s stock price gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $152.83, but opened at $146.60. Advanced Drainage Systems shares last traded at $141.08, with a volume of 15,423 shares changing hands. Specifically, EVP Darin S. Harvey sold 20,000 shares of Advanced Drainage Systems stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $112.55, for a total transaction of $2,251,000.00. Following the transaction, the executive vice president now owns 4,600 shares of the company's stock, valued at $517,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Kevin C. Talley sold 26,500 shares of Advanced Drainage Systems stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $90.54, for a total transaction of $2,399,310.00. Following the sale, the chief accounting officer now owns 62,025 shares in the company, valued at $5,615,743.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Darin S. Harvey sold 20,000 shares of Advanced Drainage Systems stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $112.55, for a total transaction of $2,251,000.00. Following the sale, the executive vice president now owns 4,600 shares in the company, valued at approximately $517,730. The disclosure for this sale can be found here. Insiders have sold 403,913 shares of company stock valued at $45,944,459 over the last 90 days. 9.33% of the stock is currently owned by corporate insiders. Analyst Upgrades and Downgrades
Several research firms have recently issued reports on WMS. Barclays lifted their price objective on shares of Advanced Drainage Systems from $135.00 to $164.00 and gave the company an "overweight" rating in a research report on Friday, August 5th. Robert W. Baird boosted their price target on shares of Advanced Drainage Systems from $119.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, August 5th. TheStreet cut shares of Advanced Drainage Systems from a "b" rating to a "c+" rating in a research report on Thursday, May 19th. Loop Capital reduced their price target on shares of 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. Finally, Morgan Stanley reduced their price target on shares of Advanced Drainage Systems from $142.00 to $120.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $144.50.Advanced Drainage Systems Price Performance
The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 1.28. The firm's 50 day simple moving average is $105.70 and its 200 day simple moving average is $110.07. The company has a market capitalization of $11.83 billion, a PE ratio of 31.35 and a beta of 1.51.
Advanced Drainage Systems (NYSE:WMS - Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The construction company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.00 by $1.22. The company had revenue of $914.20 million during the quarter, compared to analyst estimates of $849.39 million. Advanced Drainage Systems had a net margin of 12.65% and a return on equity of 47.99%. Advanced Drainage Systems's quarterly revenue was up 36.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 earnings per share. As a group, research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.25 EPS for the current fiscal year. Advanced Drainage Systems Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.34%. The ex-dividend date is Wednesday, August 31st. Advanced Drainage Systems's payout ratio is 10.67%. Institutional Trading of Advanced Drainage Systems
A number of large investors have recently made changes to their positions in WMS. Intrust Bank NA lifted its stake in Advanced Drainage Systems by 1.8% in the second quarter. Intrust Bank NA now owns 4,241 shares of the construction company's stock worth $382,000 after acquiring an additional 77 shares during the period. Mather Group LLC. raised its holdings in Advanced Drainage Systems by 3.0% in the second quarter. Mather Group LLC. now owns 2,735 shares of the construction company's stock worth $246,000 after purchasing an additional 80 shares in the last quarter. Prudential Financial Inc. raised its holdings in Advanced Drainage Systems by 3.8% in the second quarter. Prudential Financial Inc. now owns 2,238 shares of the construction company's stock worth $203,000 after purchasing an additional 82 shares in the last quarter. Xponance Inc. raised its holdings in Advanced Drainage Systems by 1.4% in the second quarter. Xponance Inc. now owns 7,123 shares of the construction company's stock worth $642,000 after purchasing an additional 95 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Advanced Drainage Systems by 0.4% in the first quarter. Vontobel Holding Ltd. now owns 23,599 shares of the construction company's stock worth $2,929,000 after purchasing an additional 105 shares in the last quarter. 98.10% of the stock is owned by hedge funds and other institutional investors. About Advanced Drainage Systems (Get Rating)
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.See AlsoGet a free copy of the StockNews.com research report on Advanced Drainage Systems (WMS)Target’s Results Cap Upside Potential For Retail Stocks Are These 3 Video Game Stocks Now In Play? 2 Long-Term EV Plays Trading Under $20Exxon, Occidental Petroleum Lead Heavy Month Of Insider Buying Why Apple is Primed to Take a Bite Out of Live Sports
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