Advisors Asset Management Inc. Sells 3,081 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Advisors Asset Management Inc. reduced its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 23.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,336 shares of the construction company’s stock after selling 3,081 shares during the quarter. Advisors Asset Management Inc.’s holdings in Advanced Drainage Systems were worth $1,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WMS. Norges Bank bought a new position in shares of Advanced Drainage Systems in the fourth quarter worth about $88,640,000. Vanguard Group Inc. increased its position in Advanced Drainage Systems by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock worth $1,251,353,000 after purchasing an additional 395,099 shares in the last quarter. Wellington Management Group LLP lifted its stake in Advanced Drainage Systems by 107.4% in the 4th quarter. Wellington Management Group LLP now owns 567,504 shares of the construction company’s stock valued at $79,814,000 after purchasing an additional 293,924 shares during the last quarter. KBC Group NV boosted its position in Advanced Drainage Systems by 78.5% in the fourth quarter. KBC Group NV now owns 659,483 shares of the construction company’s stock valued at $92,750,000 after buying an additional 289,925 shares in the last quarter. Finally, abrdn plc grew its stake in shares of Advanced Drainage Systems by 164.6% during the fourth quarter. abrdn plc now owns 377,587 shares of the construction company’s stock worth $53,104,000 after buying an additional 234,883 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Tim A. Makowski sold 3,800 shares of Advanced Drainage Systems stock in a transaction on Friday, May 31st. The shares were sold at an average price of $170.68, for a total value of $648,584.00. Following the completion of the sale, the insider now owns 4,530 shares in the company, valued at approximately $773,180.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Scott A. Cottrill sold 73,207 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $173.11, for a total value of $12,672,863.77. Following the completion of the sale, the chief financial officer now directly owns 91,442 shares of the company’s stock, valued at approximately $15,829,524.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tim A. Makowski sold 3,800 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $170.68, for a total value of $648,584.00. Following the completion of the transaction, the insider now owns 4,530 shares in the company, valued at approximately $773,180.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 176,004 shares of company stock worth $30,547,285. Corporate insiders own 2.05% of the company’s stock.

Advanced Drainage Systems Trading Up 3.8 %

WMS opened at $174.48 on Friday. Advanced Drainage Systems, Inc. has a twelve month low of $102.32 and a twelve month high of $184.27. The company has a fifty day moving average of $167.04 and a 200-day moving average of $160.87. The stock has a market cap of $13.52 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.43 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 (NYSE:WMS) last issued its quarterly earnings results on Thursday, May 16th. The construction company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.28. Advanced Drainage Systems had a net margin of 17.74% and a return on equity of 46.93%. The business had revenue of $653.80 million for the quarter, compared to analysts’ expectations of $611.99 million. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts predict that Advanced Drainage Systems, Inc. will post 7.19 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 31st. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 0.37%. Advanced Drainage Systems’s payout ratio is 9.94%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WMS shares. Northcoast Research started coverage on Advanced Drainage Systems in a report on Wednesday, May 8th. They set a “buy” rating and a $190.00 price objective on the stock. Stephens boosted their price target on Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. StockNews.com lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Oppenheimer boosted their target price on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Robert W. Baird raised their price target on shares of Advanced Drainage Systems from $192.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.88.

Advanced Drainage Systems Company Profile

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.