Gallacher Capital Management LLC Acquires Shares of 1,639 Advanced Drainage Systems, Inc. (NYSE:WMS)

Gallacher Capital Management LLC bought a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,639 shares of the construction company’s stock, valued at approximately $282,000.

Other institutional investors also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in Advanced Drainage Systems during the first quarter worth about $32,000. Contravisory Investment Management Inc. bought a new stake in Advanced Drainage Systems during the fourth quarter worth about $27,000. GAMMA Investing LLC bought a new stake in Advanced Drainage Systems during the fourth quarter worth about $28,000. Avalon Trust Co bought a new position in shares of Advanced Drainage Systems in the fourth quarter worth about $38,000. Finally, Tobam bought a new position in shares of Advanced Drainage Systems in the first quarter worth about $56,000. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Up 1.3 %

Shares of NYSE WMS traded up $2.19 during trading on Friday, reaching $164.78. The company had a trading volume of 73,340 shares, compared to its average volume of 481,894. The stock has a market cap of $12.77 billion, a PE ratio of 25.74, a P/E/G ratio of 1.29 and a beta of 1.55. The company has a quick ratio of 1.90, a current ratio of 2.96 and a debt-to-equity ratio of 1.13. Advanced Drainage Systems, Inc. has a 12-month low of $102.32 and a 12-month high of $184.27. The business’s 50-day moving average is $167.45 and its 200 day moving average is $158.22.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, May 16th. The construction company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.28. Advanced Drainage Systems had a return on equity of 46.93% and a net margin of 17.74%. The company had revenue of $653.80 million for the quarter, compared to the consensus estimate of $611.99 million. During the same quarter in the prior year, the company earned $1.06 earnings per share. Advanced Drainage Systems’s revenue was up 5.9% on a year-over-year basis. As a group, equities analysts forecast that Advanced Drainage Systems, Inc. will post 7.17 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.16 dividend. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a yield of 0.39%. Advanced Drainage Systems’s dividend payout ratio is currently 9.94%.

Insider Buying and Selling at Advanced Drainage Systems

In other Advanced Drainage Systems news, EVP Robert M. Klein sold 3,059 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $175.95, for a total value of $538,231.05. Following the completion of the sale, the executive vice president now owns 102,070 shares in the company, valued at $17,959,216.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider D. Scott Barbour sold 85,938 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $174.10, for a total transaction of $14,961,805.80. Following the completion of the sale, the insider now owns 45,994 shares in the company, valued at $8,007,555.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert M. Klein sold 3,059 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $175.95, for a total value of $538,231.05. Following the sale, the executive vice president now owns 102,070 shares of the company’s stock, valued at approximately $17,959,216.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 176,004 shares of company stock valued at $30,547,285. 2.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WMS shares. Stephens increased their target price on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Northcoast Research initiated coverage on shares of Advanced Drainage Systems in a research report on Wednesday, May 8th. They set a “buy” rating and a $190.00 price objective for the company. KeyCorp increased their target price on Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. StockNews.com upgraded Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Oppenheimer lifted their price objective on Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and an average price target of $181.88.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.