Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Bought by Raymond James & Associates

Raymond James & Associates raised its holdings in Advanced Drainage Systems, Inc. (NYSE:WMSGet Rating) by 21.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 51,369 shares of the construction company’s stock after acquiring an additional 9,180 shares during the period. Raymond James & Associates’ holdings in Advanced Drainage Systems were worth $6,389,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Neo Ivy Capital Management acquired a new position in Advanced Drainage Systems in the 2nd quarter valued at $33,000. Van ECK Associates Corp grew its stake in shares of Advanced Drainage Systems by 19.1% during the 2nd quarter. Van ECK Associates Corp now owns 798 shares of the construction company’s stock valued at $72,000 after buying an additional 128 shares during the period. Ellevest Inc. purchased a new stake in shares of Advanced Drainage Systems during the 2nd quarter valued at $78,000. Lazard Asset Management LLC grew its stake in shares of Advanced Drainage Systems by 98.2% during the 1st quarter. Lazard Asset Management LLC now owns 1,132 shares of the construction company’s stock valued at $134,000 after buying an additional 561 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of Advanced Drainage Systems by 1,170.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,410 shares of the construction company’s stock valued at $126,000 after buying an additional 1,299 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WMS. Morgan Stanley lowered their price objective on shares of 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. StockNews.com began coverage on shares of Advanced Drainage Systems in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Barclays lifted their target price on shares of Advanced Drainage Systems from $122.00 to $127.00 in a report on Wednesday, December 14th. Robert W. Baird reduced their target price on shares of Advanced Drainage Systems from $168.00 to $121.00 in a report on Friday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Advanced Drainage Systems from $159.00 to $140.00 in a report on Monday, November 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.40.

Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $88.73 on Friday. Advanced Drainage Systems, Inc. has a twelve month low of $79.90 and a twelve month high of $153.36. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 16.37 and a beta of 1.30. The company has a current ratio of 3.07, a quick ratio of 1.98 and a debt-to-equity ratio of 1.22. The firm’s fifty day simple moving average is $87.45 and its 200 day simple moving average is $110.32.

Advanced Drainage Systems (NYSE:WMSGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The construction company reported $1.80 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $928.04 million. During the same period last year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 25.2% on a year-over-year basis. As a group, equities research analysts expect 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 declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.54%. The ex-dividend date was Wednesday, November 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is 8.86%.

Insider Buying and Selling

In related news, EVP Robert M. Klein sold 33,840 shares of Advanced Drainage Systems stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $82.61, for a total transaction of $2,795,522.40. Following the sale, the executive vice president now owns 98,775 shares of the company’s stock, valued at approximately $8,159,802.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Advanced Drainage Systems news, EVP Robert M. Klein sold 33,840 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $82.61, for a total transaction of $2,795,522.40. Following the completion of the transaction, the executive vice president now directly owns 98,775 shares of the company’s stock, valued at approximately $8,159,802.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director De La Mesa Manuel J. Perez acquired 5,000 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were bought at an average cost of $81.90 per share, with a total value of $409,500.00. Following the completion of the acquisition, the director now owns 18,493 shares in the company, valued at $1,514,576.70. The disclosure for this purchase can be found here. 9.33% of the stock is currently owned by insiders.

Advanced Drainage Systems Company Profile

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Advanced Drainage Systems, Inc engages in the manufacture of thermoplastic corrugated pipe, which provides a suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. It operates through the following segments: Pipe, Infiltrator, International, and Allied Products & Other.

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

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