Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC increased its position in Advanced Drainage Systems, Inc. (NYSE:WMSGet Rating) by 33.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,511 shares of the construction company’s stock after buying an additional 379 shares during the quarter. Lazard Asset Management LLC’s holdings in Advanced Drainage Systems were worth $135,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Duality Advisers LP purchased a new stake in shares of Advanced Drainage Systems during the second quarter valued at $747,000. Advisors Asset Management Inc. lifted its holdings in shares of Advanced Drainage Systems by 2.2% during the second quarter. Advisors Asset Management Inc. now owns 44,648 shares of the construction company’s stock valued at $4,021,000 after purchasing an additional 964 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Advanced Drainage Systems by 1.5% during the second quarter. Baird Financial Group Inc. now owns 592,719 shares of the construction company’s stock valued at $53,386,000 after purchasing an additional 8,525 shares during the last quarter. State of Michigan Retirement System purchased a new stake in shares of Advanced Drainage Systems during the second quarter valued at $2,348,000. Finally, Triodos Investment Management BV lifted its holdings in shares of Advanced Drainage Systems by 5.7% during the second quarter. Triodos Investment Management BV now owns 185,000 shares of the construction company’s stock valued at $16,663,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WMS shares. Deutsche Bank Aktiengesellschaft reduced their target price on Advanced Drainage Systems from $159.00 to $140.00 in a report on Monday, November 7th. StockNews.com assumed coverage on Advanced Drainage Systems in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Robert W. Baird reduced their price objective on Advanced Drainage Systems from $168.00 to $121.00 in a research note on Friday, November 4th. Barclays increased their price objective on Advanced Drainage Systems from $135.00 to $164.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Finally, Morgan Stanley reduced their price objective on Advanced Drainage Systems from $152.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, November 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $133.80.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $92.34 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.07 and a quick ratio of 1.98. Advanced Drainage Systems, Inc. has a fifty-two week low of $80.76 and a fifty-two week high of $153.36. The stock’s 50-day moving average is $115.76 and its two-hundred day moving average is $113.65. The firm has a market cap of $7.65 billion, a P/E ratio of 17.04 and a beta of 1.35.

Advanced Drainage Systems (NYSE:WMSGet Rating) last issued its earnings results on Thursday, November 3rd. The construction company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.08). Advanced Drainage Systems had a return on equity of 51.62% and a net margin of 14.34%. The firm had revenue of $884.20 million during the quarter, compared to analyst estimates of $928.04 million. During the same period in the previous year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. Analysts predict that Advanced Drainage Systems, Inc. will post 6.01 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.52%. The ex-dividend date is Wednesday, November 30th. Advanced Drainage Systems’s payout ratio is currently 8.86%.

Insider Activity

In other news, Director Anil Seetharam sold 54,848 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $136.52, for a total transaction of $7,487,848.96. Following the transaction, the director now owns 30,231 shares of the company’s stock, valued at approximately $4,127,136.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Anil Seetharam sold 54,848 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $136.52, for a total transaction of $7,487,848.96. Following the transaction, the director now owns 30,231 shares of the company’s stock, valued at approximately $4,127,136.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert M. Klein sold 33,840 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $82.61, for a total value of $2,795,522.40. Following the completion of the sale, the executive vice president now directly owns 98,775 shares in the company, valued at approximately $8,159,802.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 415,494 shares of company stock valued at $54,506,605. Insiders own 9.33% of the company’s stock.

Advanced Drainage Systems Company 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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