Advanced Drainage Systems, Inc. (NYSE:WMS) Increase in equity position by Russell Investments Group Ltd.
Russell Investments Group Ltd. raised its position in Advanced Drainage Systems, Inc. (New York Stock Exchange: WMS – Get a rating) by 35.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor held 52,560 shares of the construction company after purchasing an additional 13,742 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Advanced Drainage Systems worth $6,242,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently changed their WMS holdings. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter at a value of $46,000. Signaturefd LLC increased its position in shares of Advanced Drainage Systems by 1,168.4% during the first quarter. Signaturefd LLC now owns 482 shares of the construction company worth $57,000 after purchasing an additional 444 shares during the period. Covestor Ltd acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter at a value of $72,000. Kepos Capital LP acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter at a value of $85,000. Finally, UMB Bank NA MO acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter at a value of $86,000. Institutional investors hold 98.10% of the company’s shares.
In other news, CAD Kevin C. Talley sold 26,500 shares in a trade dated Tuesday, June 14. The stock was sold at an average price of $90.54, for a total transaction of $2,399,310.00. Following the transaction, the chief accounting officer now owns 62,025 shares of the company, valued at approximately $5,615,743.50. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. In related news, the director Anil Seetharam sold 108,926 shares in a trade that took place on Thursday, June 9. The stock was sold at an average price of $108.69, for a total transaction of $11,839,166.94. Following the completion of the sale, the administrator now owns 6,054,573 shares of the company, valued at approximately $658,071,539.37. The sale was disclosed in a filing with the SEC, which is available via the SEC website. Additionally, CAO Kevin C. Talley sold 26,500 shares in a trade that took place on Tuesday, June 14. The shares were sold at an average price of $90.54, for a total value of $2,399,310.00. Following the sale, the accounting director now owns 62,025 shares of the company, valued at approximately $5,615,743.50. Disclosure of this sale can be found here. During the last quarter, insiders sold 355,426 shares of the company valued at $38,979,477. Insiders own 9.33% of the shares of the company.
Analyst upgrades and downgrades
WMS has been the subject of a number of recent analyst reports. TheStreet lowered Advanced Drainage Systems from a ‘b’ rating to a ‘c+’ rating in a Thursday, May 19 research report. Loop Capital lowered its price target on Advanced Drainage Systems from $158.00 to $124.00 and set a “buy” rating on the stock in a research report on Friday, July 8. Robert W. Baird raised his price target on Advanced Drainage Systems from $119.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley lowered its price target on Advanced Drainage Systems from $142.00 to $120.00 and set an “overweight” rating on the stock in a Tuesday, June 28 research report. Finally, Barclays raised its price target on Advanced Drainage Systems from $135.00 to $164.00 and gave the company an “overweight” rating in a research report on Friday. Two investment analysts gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $144.50.
Advanced Drainage Systems Stock Performance
Shares of WMS inventory opened at $142.55 on Tuesday. The company has a debt ratio of 1.01, a current ratio of 2.23 and a quick ratio of 0.97. Advanced Drainage Systems, Inc. has a fifty-two week minimum of $80.81 and a fifty-two week maximum of $144.08. The stock’s 50-day moving average is $101.60 and its two-hundred-day moving average is $108.47. The company has a market capitalization of $12.10 billion, a P/E ratio of 31.68 and a beta of 1.51.
Advanced drainage systems (New York Stock Exchange: WMS – Get a rating) last reported results on Thursday, August 4. The construction company reported earnings per share of $2.22 for the quarter, beating the consensus estimate of $1.00 by $1.22. Advanced Drainage Systems achieved a return on equity of 50.97% and a net margin of 12.65%. The company posted revenue of $914.20 million for the quarter, versus analyst estimates of $849.39 million. During the same period a year earlier, the company posted EPS of $0.87. The company’s revenues increased by 36.6% compared to the same quarter last year. Analysts predict Advanced Drainage Systems, Inc. will post earnings per share of 3.88 for the current fiscal year.
Advanced Drainage Systems Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Shareholders of record on Thursday, September 1 will receive a dividend of $0.12 per share. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 0.34%. The ex-date of this dividend is Wednesday, August 31. Advanced Drainage Systems’ dividend payout rate is 10.67%.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc designs, manufactures and markets thermoplastic corrugated pipe and related water management products and drainage solutions for use in the underground construction and infrastructure market in the United States, Canada , in Mexico and abroad. The Company operates through Pipe, International, Infiltrator and Allied Products & Other segments.
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