Posted by admin on Aug 12th, 2022

State Board of Administration of Florida Retirement System boosted its position in Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,053 shares of the construction company’s stock after buying an additional 1,653 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.06% of Advanced Drainage Systems worth $4,996,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of WMS. Commonwealth Equity Services LLC raised its holdings in Advanced Drainage Systems by 29.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,100 shares of the construction company’s stock worth $422,000 after purchasing an additional 708 shares in the last quarter. KBC Group NV lifted its holdings in shares of Advanced Drainage Systems by 30.4% in the 4th quarter. KBC Group NV now owns 157,616 shares of the construction company’s stock valued at $21,456,000 after buying an additional 36,778 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at approximately $46,000. Daiwa Securities Group Inc. grew its holdings in Advanced Drainage Systems by 23.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 25,600 shares of the construction company’s stock worth $3,485,000 after acquiring an additional 4,900 shares during the period. Finally, Intrust Bank NA raised its position in Advanced Drainage Systems by 5.1% in the fourth quarter. Intrust Bank NA now owns 3,626 shares of the construction company’s stock worth $493,000 after acquiring an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 98.10% of the company’s stock.

WMS has been the topic of a number of recent analyst reports. TheStreet cut shares of Advanced Drainage Systems from a “b” rating to a “c+” rating in a research note on Thursday, May 19th. Morgan Stanley dropped 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 report on Tuesday, June 28th. Barclays boosted their price target on Advanced Drainage Systems from $135.00 to $164.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Loop Capital dropped their price objective on 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, Robert W. Baird boosted their target price on Advanced Drainage Systems from $119.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.50.

In related news, EVP Darin S. Harvey sold 20,000 shares of the company’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 directly owns 4,600 shares in the company, valued at $517,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Kevin C. Talley sold 26,500 shares of the business’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 62,025 shares of the company’s stock, valued at approximately $5,615,743.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Darin S. Harvey sold 20,000 shares of the 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 directly owns 4,600 shares in the company, valued at $517,730. The disclosure for this sale can be found here. In the last three months, insiders sold 357,296 shares of company stock worth $39,243,110. Insiders own 9.33% of the company’s stock.

Advanced Drainage Systems stock opened at $144.35 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.97 and a current ratio of 2.23. Advanced Drainage Systems, Inc. has a fifty-two week low of $80.81 and a fifty-two week high of $148.18. The stock has a fifty day moving average of $103.45 and a two-hundred day moving average of $109.14. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of 32.08 and a beta of 1.51.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last announced its earnings results on Thursday, August 4th. The construction company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.00 by $1.22. Advanced Drainage Systems had a net margin of 12.65% and a return on equity of 50.97%. The firm had revenue of $914.20 million during the quarter, compared to the consensus estimate of $849.39 million. During the same quarter in the previous year, the company posted $0.87 EPS. The firm’s revenue for the quarter was up 36.6% on a year-over-year basis. On average, analysts anticipate that Advanced Drainage Systems, Inc. will post 3.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.48 annualized dividend and a yield of 0.33%. Advanced Drainage Systems’s payout ratio is currently 10.67%.

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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