Posted by admin on Jul 1st, 2022

Fifth Third Bancorp lessened its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,136 shares of the construction company’s stock after selling 10,341 shares during the period. Fifth Third Bancorp’s holdings in Advanced Drainage Systems were worth $18,194,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WMS. Credit Agricole S A increased its holdings in shares of Advanced Drainage Systems by 18.8% in the 4th quarter. Credit Agricole S A now owns 915 shares of the construction company’s stock worth $125,000 after purchasing an additional 145 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its stake in shares of Advanced Drainage Systems by 4.1% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 4,054 shares of the construction company’s stock worth $439,000 after buying an additional 159 shares during the last quarter. Intrust Bank NA boosted its stake in shares of Advanced Drainage Systems by 5.1% in the 4th quarter. Intrust Bank NA now owns 3,626 shares of the construction company’s stock worth $493,000 after buying an additional 177 shares during the last quarter. Utah Retirement Systems boosted its stake in shares of Advanced Drainage Systems by 10.3% in the 3rd quarter. Utah Retirement Systems now owns 3,200 shares of the construction company’s stock worth $346,000 after buying an additional 300 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its stake in shares of Advanced Drainage Systems by 5.8% in the 4th 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 last quarter. 98.10% of the stock is owned by institutional investors.

In other news, CAO Kevin C. Talley sold 26,500 shares of the business’s stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $90.54, for a total value of $2,399,310.00. Following the transaction, the chief accounting officer now directly owns 62,025 shares in the company, valued at $5,615,743.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Darin S. Harvey sold 20,000 shares of the business’s stock in a transaction dated 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 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 sold 355,426 shares of company stock worth $38,979,477 over the last 90 days. Company insiders own 9.33% of the company’s stock.

NYSE WMS opened at $90.07 on Friday. The company has a market capitalization of $7.65 billion, a PE ratio of 28.59 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.97 and a current ratio of 2.23. The business’s fifty day moving average is $100.05 and its 200 day moving average is $112.80. Advanced Drainage Systems, Inc. has a fifty-two week low of $80.81 and a fifty-two week high of $138.02.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last released its earnings results on Thursday, May 19th. The construction company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.18). The company had revenue of $678.20 million for the quarter, compared to analysts’ expectations of $623.91 million. Advanced Drainage Systems had a net margin of 9.75% and a return on equity of 37.32%. Advanced Drainage Systems’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share. On average, sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 3.83 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.53%. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, May 31st. Advanced Drainage Systems’s payout ratio is presently 15.24%.

WMS has been the topic of a number of research reports. Morgan Stanley dropped their price target on Advanced Drainage Systems from $142.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday. TheStreet downgraded Advanced Drainage Systems from a “b” rating to a “c+” rating in a research note on Thursday, May 19th. StockNews.com initiated coverage on Advanced Drainage Systems in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Robert W. Baird dropped their price target on Advanced Drainage Systems from $158.00 to $137.00 and set an “outperform” rating on the stock in a research note on Friday, May 20th. Finally, Barclays lowered their target price on Advanced Drainage Systems from $162.00 to $138.00 and set an “overweight” rating on the stock in a research report on Friday, May 20th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and an average target price of $138.25.

Advanced Drainage Systems Company Profile (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.

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