Posted by admin on Aug 13th, 2022

Envestnet Asset Management Inc. boosted its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,698 shares of the construction company’s stock after buying an additional 3,423 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of Advanced Drainage Systems worth $4,835,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at about $46,000. Signaturefd LLC lifted its position in shares of Advanced Drainage Systems by 1,168.4% in the 1st quarter. Signaturefd LLC now owns 482 shares of the construction company’s stock worth $57,000 after acquiring an additional 444 shares during the period. Covestor Ltd acquired a new stake in shares of Advanced Drainage Systems during the 4th quarter worth approximately $72,000. Kepos Capital LP bought a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at approximately $85,000. Finally, UMB Bank N A MO acquired a new position in shares of Advanced Drainage Systems in the fourth quarter valued at $86,000. 98.10% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on WMS. Morgan Stanley dropped their price objective 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. Barclays boosted their price target on Advanced Drainage Systems from $135.00 to $164.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Loop Capital reduced their target price on shares of Advanced Drainage Systems from $158.00 to $124.00 and set a “buy” rating on the stock in a research note on Friday, July 8th. TheStreet downgraded shares of Advanced Drainage Systems from a “b” rating to a “c+” rating in a report on Thursday, May 19th. Finally, Robert W. Baird raised their price objective on shares of Advanced Drainage Systems from $119.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $144.50.

WMS opened at $148.56 on Friday. Advanced Drainage Systems, Inc. has a 1-year low of $80.81 and a 1-year high of $149.26. The stock has a market capitalization of $12.42 billion, a PE ratio of 33.01 and a beta of 1.51. The company has a current ratio of 2.78, a quick ratio of 0.97 and a debt-to-equity ratio of 1.28. The firm has a 50-day moving average price of $104.15 and a two-hundred day moving average price of $109.42.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The construction company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.00 by $1.22. The firm had revenue of $914.20 million during the quarter, compared to analysts’ expectations 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 revenue was up 36.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 EPS. As a group, equities analysts anticipate that Advanced Drainage Systems, Inc. will post 3.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.32%. The ex-dividend date is Wednesday, August 31st. Advanced Drainage Systems’s dividend payout ratio is 10.67%.

In other news, CAO Kevin C. Talley sold 34,836 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $142.68, for a total value of $4,970,400.48. Following the transaction, the chief accounting officer now owns 62,025 shares of the company’s stock, valued at approximately $8,849,727. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Advanced Drainage Systems news, CAO Kevin C. Talley sold 34,836 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $142.68, for a total transaction of $4,970,400.48. Following the completion of the sale, the chief accounting officer now owns 62,025 shares in the company, valued at approximately $8,849,727. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Darin S. Harvey sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 4,600 shares in the company, valued at $517,730. The disclosure for this sale can be found here. Insiders have sold a total of 392,132 shares of company stock worth $44,213,510 over the last 90 days. Insiders own 9.33% of the company’s stock.

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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