Posted by admin on Jun 23rd, 2022

Nordea Investment Management AB grew its position in Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,391 shares of the construction company’s stock after buying an additional 6,743 shares during the period. Nordea Investment Management AB’s holdings in Advanced Drainage Systems were worth $24,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 valued at $235,614,000 after acquiring an additional 553,911 shares during the last quarter. Boston Partners grew its holdings in shares of Advanced Drainage Systems by 73.5% during the 4th quarter. Boston Partners now owns 1,415,975 shares of the construction company’s stock worth $192,734,000 after purchasing an additional 599,778 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Advanced Drainage Systems during the 4th quarter worth about $156,123,000. Artemis Investment Management LLP raised its holdings in Advanced Drainage Systems by 28.1% in the 4th quarter. Artemis Investment Management LLP now owns 884,958 shares of the construction company’s stock valued at $120,363,000 after buying an additional 193,908 shares during the period. Finally, State Street Corp raised its holdings in Advanced Drainage Systems by 5.7% in the 4th quarter. State Street Corp now owns 843,902 shares of the construction company’s stock valued at $114,880,000 after buying an additional 45,708 shares during the period. Institutional investors and hedge funds own 98.10% of the company’s stock.

A number of research firms have recently issued reports on WMS. Barclays reduced their price target 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. Robert W. Baird decreased 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. Morgan Stanley dropped their price objective on Advanced Drainage Systems from $145.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, May 20th. StockNews.com started coverage on Advanced Drainage Systems in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, TheStreet downgraded Advanced Drainage Systems from a “b” rating to a “c+” rating in a research report on Thursday, May 19th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.75.

In other Advanced Drainage Systems 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 transaction of $22,490,000.00. Following the sale, the director now owns 6,167,265 shares of the company’s stock, valued at $693,508,949.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Darin S. Harvey sold 20,000 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 4,600 shares of the company’s stock, valued at approximately $517,730. The disclosure for this sale can be found here. Insiders sold a total of 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 $82.85 on Thursday. Advanced Drainage Systems, Inc. has a 12-month low of $80.81 and a 12-month high of $138.02. The firm has a market cap of $7.03 billion, a PE ratio of 26.30 and a beta of 1.36. The company has a current ratio of 2.23, a quick ratio of 0.97 and a debt-to-equity ratio of 1.01. The stock has a fifty day moving average price of $102.56 and a 200 day moving average price of $114.67.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last announced its quarterly earnings data on Thursday, May 19th. The construction company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $623.91 million. During the same quarter in the previous year, the business posted $0.23 EPS. The business’s quarterly revenue was up 52.8% compared to the same quarter last year. Equities analysts forecast that Advanced Drainage Systems, Inc. will post 3.83 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, May 31st. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.58%. Advanced Drainage Systems’s dividend payout ratio is currently 15.24%.

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

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