Posted by admin on Jul 29th, 2022

Signaturefd LLC boosted its stake in Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 1,168.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 482 shares of the construction company’s stock after buying an additional 444 shares during the quarter. Signaturefd LLC’s holdings in Advanced Drainage Systems were worth $57,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in Advanced Drainage Systems by 47.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,730,806 shares of the construction company’s stock worth $235,614,000 after buying an additional 553,911 shares during the period. Boston Partners increased its stake in shares of Advanced Drainage Systems by 73.5% during the fourth quarter. Boston Partners now owns 1,415,975 shares of the construction company’s stock valued at $192,734,000 after purchasing an additional 599,778 shares in the last quarter. Artemis Investment Management LLP increased its stake in shares of Advanced Drainage Systems by 17.5% during the first quarter. Artemis Investment Management LLP now owns 1,040,137 shares of the construction company’s stock valued at $123,385,000 after purchasing an additional 155,179 shares in the last quarter. State Street Corp increased its stake in shares of Advanced Drainage Systems by 5.7% during the fourth quarter. State Street Corp now owns 843,902 shares of the construction company’s stock valued at $114,880,000 after purchasing an additional 45,708 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Advanced Drainage Systems by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 691,972 shares of the construction company’s stock valued at $94,198,000 after purchasing an additional 37,505 shares in the last quarter. 98.10% of the stock is currently owned by hedge funds and other institutional investors.

WMS has been the subject of a number of analyst reports. Morgan Stanley decreased their target price on shares of 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. StockNews.com initiated coverage on shares of Advanced Drainage Systems in a research note on Thursday, March 31st. They set a “hold” rating for the company. Barclays decreased their target price on shares of Advanced Drainage Systems from $138.00 to $135.00 in a research note on Thursday, July 14th. Loop Capital decreased their target price on shares of Advanced Drainage Systems from $158.00 to $124.00 and set a “buy” rating for the company in a research note on Friday, July 8th. Finally, TheStreet downgraded shares of Advanced Drainage Systems from a “b” rating to a “c+” rating in a research report on Thursday, May 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $129.00.

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 sale, the executive vice president now owns 4,600 shares in the company, valued at $517,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Anil Seetharam sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $112.45, for a total value of $22,490,000.00. Following the sale, the director now owns 6,167,265 shares in the company, valued at $693,508,949.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Darin S. Harvey sold 20,000 shares of Advanced Drainage Systems stock in a transaction 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 transaction, 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. Over the last quarter, insiders have sold 355,426 shares of company stock worth $38,979,477. 9.33% of the stock is owned by insiders.

Shares of WMS opened at $115.41 on Friday. The company has a market capitalization of $9.80 billion, a P/E ratio of 36.16 and a beta of 1.42. The company has a quick ratio of 0.97, a current ratio of 2.23 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average of $98.61 and a 200 day moving average of $108.28. Advanced Drainage Systems, Inc. has a twelve month low of $80.81 and a twelve month high of $138.02.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last announced its quarterly earnings results on Thursday, May 19th. The construction company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.23. 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 during the quarter, compared to the consensus estimate of $623.91 million. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 52.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 3.83 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were issued a $0.12 dividend. The ex-dividend date was Tuesday, May 31st. This represents a $0.48 annualized dividend and a yield of 0.42%. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.11. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 15.24%.

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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