Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 14.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,625 shares of the construction company’s stock after selling 609 shares during the period. iA Global Asset Management Inc.’s holdings in Advanced Drainage Systems were worth $624,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Raymond James & Associates grew its position in Advanced Drainage Systems by 18.1% in the 4th quarter. Raymond James & Associates now owns 42,273 shares of the construction company’s stock valued at $5,945,000 after buying an additional 6,467 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Advanced Drainage Systems by 88.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,320 shares of the construction company’s stock valued at $608,000 after buying an additional 2,023 shares in the last quarter. Global Retirement Partners LLC grew its position in Advanced Drainage Systems by 58.6% in the 4th quarter. Global Retirement Partners LLC now owns 788 shares of the construction company’s stock valued at $103,000 after buying an additional 291 shares in the last quarter. International Assets Investment Management LLC bought a new position in Advanced Drainage Systems in the 4th quarter valued at about $5,040,000. Finally, Prime Capital Investment Advisors LLC bought a new position in Advanced Drainage Systems in the 4th quarter valued at about $233,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WMS. KeyCorp increased their target price on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Oppenheimer raised their price objective on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. StockNews.com lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Stephens raised their price objective on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Finally, 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $181.88.

Advanced Drainage Systems Trading Down 4.4 %

WMS stock traded down $7.86 during mid-day trading on Thursday, reaching $169.18. 843,257 shares of the stock traded hands, compared to its average volume of 485,004. The company has a current ratio of 2.96, a quick ratio of 1.90 and a debt-to-equity ratio of 1.13. Advanced Drainage Systems, Inc. has a 52-week low of $102.32 and a 52-week high of $184.27. The company has a market cap of $13.11 billion, a P/E ratio of 27.49, a P/E/G ratio of 1.42 and a beta of 1.55. The stock’s fifty day moving average is $166.85 and its 200-day moving average is $161.83.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data 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 company had revenue of $653.80 million during the quarter, compared to analyst estimates of $611.99 million. During the same period in the prior year, the firm earned $1.06 earnings per share. The business’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 7.19 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.38%. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 31st. Advanced Drainage Systems’s dividend payout ratio is 9.94%.

Insider Transactions at Advanced Drainage Systems

In other news, insider Tim A. Makowski sold 3,800 shares of the stock in a transaction that occurred 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 directly owns 4,530 shares of the company’s stock, valued at $773,180.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Tim A. Makowski sold 3,800 shares of the stock in a transaction that occurred 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 directly owns 4,530 shares of the company’s stock, valued at $773,180.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott A. Cottrill sold 73,207 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $173.11, for a total transaction 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 $15,829,524.62. The disclosure for this sale can be found here. Insiders sold 176,004 shares of company stock valued at $30,547,285 over the last three months. 2.05% of the stock is owned by corporate insiders.

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.