Victory Capital Management Inc. Reduces Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Victory Capital Management Inc. decreased its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMSGet Rating) by 50.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 277,452 shares of the construction company’s stock after selling 280,292 shares during the period. Victory Capital Management Inc. owned about 0.39% of Advanced Drainage Systems worth $31,782,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WMS. Boston Partners increased its stake in Advanced Drainage Systems by 73.5% during the 4th quarter. Boston Partners now owns 1,415,975 shares of the construction company’s stock worth $192,734,000 after buying an additional 599,778 shares during the period. JPMorgan Chase & Co. increased its stake in Advanced Drainage Systems by 47.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,730,806 shares of the construction company’s stock worth $235,614,000 after buying an additional 553,911 shares during the period. Stifel Financial Corp increased its stake in Advanced Drainage Systems by 574.8% during the 4th quarter. Stifel Financial Corp now owns 320,188 shares of the construction company’s stock worth $43,586,000 after buying an additional 272,738 shares during the period. Zurich Insurance Group Ltd FI increased its stake in Advanced Drainage Systems by 58.0% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 678,711 shares of the construction company’s stock worth $92,393,000 after buying an additional 249,129 shares during the period. Finally, Artemis Investment Management LLP increased its stake in Advanced Drainage Systems by 28.1% during the 4th quarter. Artemis Investment Management LLP now owns 884,958 shares of the construction company’s stock worth $120,363,000 after buying an additional 193,908 shares during the period. Hedge funds and other institutional investors own 98.10% of the company’s stock.

Advanced Drainage Systems Trading Down 0.1 %

Advanced Drainage Systems stock opened at $118.61 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 2.23 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $99.55 and a two-hundred day moving average price of $107.98. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 37.65 and a beta of 1.51. Advanced Drainage Systems, Inc. has a 52-week low of $80.81 and a 52-week high of $138.02.

Advanced Drainage Systems (NYSE:WMSGet Rating) last posted its earnings results on Thursday, May 19th. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.23. The firm had revenue of $678.20 million during the quarter, compared to analyst estimates of $623.91 million. Advanced Drainage Systems had a net margin of 9.75% and a return on equity of 37.32%. Advanced Drainage Systems’s revenue was up 52.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. Sell-side analysts expect that Advanced Drainage Systems, Inc. will post 3.88 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.40%. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, May 31st. Advanced Drainage Systems’s payout ratio is presently 15.24%.

Insider Buying and Selling at Advanced Drainage Systems

In other Advanced Drainage Systems news, EVP Darin S. Harvey sold 20,000 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $112.55, for a total transaction of $2,251,000.00. Following the sale, the executive vice president now directly owns 4,600 shares in the company, valued at approximately $517,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Kevin C. Talley sold 26,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $90.54, for a total value of $2,399,310.00. Following the sale, the chief accounting officer now directly owns 62,025 shares in the company, valued at approximately $5,615,743.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Darin S. Harvey sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $112.55, for a total transaction of $2,251,000.00. Following the completion of the sale, the executive vice president now owns 4,600 shares in the company, valued at $517,730. The disclosure for this sale can be found here. Insiders sold 355,426 shares of company stock valued at $38,979,477 in the last ninety days. Company insiders own 9.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WMS. TheStreet downgraded shares of Advanced Drainage Systems from a “b” rating to a “c+” rating in a research note on Thursday, May 19th. Morgan Stanley decreased their price objective 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. Loop Capital decreased their price objective on shares of Advanced Drainage Systems from $158.00 to $124.00 and set a “buy” rating for the company in a report on Friday, July 8th. Robert W. Baird decreased their price objective on shares of Advanced Drainage Systems from $158.00 to $137.00 and set an “outperform” rating for the company in a report on Friday, May 20th. Finally, Barclays decreased their price objective on shares of Advanced Drainage Systems from $138.00 to $135.00 in a report on Thursday, July 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.00.

Advanced Drainage Systems Profile

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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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Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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