Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in Advanced Drainage Systems, Inc. (NYSE:WMSGet Rating) by 108.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,440 shares of the construction company’s stock after acquiring an additional 2,828 shares during the period. Janney Montgomery Scott LLC’s holdings in Advanced Drainage Systems were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. First Hawaiian Bank lifted its stake in shares of Advanced Drainage Systems by 43.9% in the 2nd quarter. First Hawaiian Bank now owns 6,605 shares of the construction company’s stock worth $595,000 after acquiring an additional 2,015 shares during the period. Sei Investments Co. lifted its stake in shares of Advanced Drainage Systems by 86.1% in the 2nd quarter. Sei Investments Co. now owns 241,224 shares of the construction company’s stock worth $21,668,000 after acquiring an additional 111,611 shares during the period. Ellevest Inc. acquired a new stake in shares of Advanced Drainage Systems in the 2nd quarter worth approximately $78,000. Xponance Inc. lifted its stake in shares of Advanced Drainage Systems by 1.4% in the 2nd quarter. Xponance Inc. now owns 7,123 shares of the construction company’s stock worth $642,000 after acquiring an additional 95 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Advanced Drainage Systems by 2.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,144,133 shares of the construction company’s stock worth $103,051,000 after acquiring an additional 23,902 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Up 4.3 %

WMS stock opened at $89.13 on Friday. Advanced Drainage Systems, Inc. has a 52-week low of $79.90 and a 52-week high of $153.36. The company’s 50 day simple moving average is $87.75 and its 200-day simple moving average is $110.10. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.07 and a quick ratio of 1.98. The firm has a market capitalization of $7.38 billion, a P/E ratio of 16.44 and a beta of 1.30.

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 analysts’ consensus estimates of $1.88 by ($0.08). Advanced Drainage Systems had a net margin of 14.34% and a return on equity of 51.62%. The firm had revenue of $884.20 million for the quarter, compared to analyst estimates of $928.04 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The firm’s revenue was up 25.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.01 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. Advanced Drainage Systems’s dividend payout ratio is currently 8.86%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WMS shares. Robert W. Baird reduced their price target on shares of Advanced Drainage Systems from $168.00 to $121.00 in a research note on Friday, November 4th. Morgan Stanley cut their target price 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. Deutsche Bank Aktiengesellschaft cut their target price on shares of Advanced Drainage Systems from $159.00 to $140.00 in a research note on Monday, November 7th. Finally, Barclays increased their target price on shares of Advanced Drainage Systems from $122.00 to $127.00 in a research note on Wednesday, December 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and an average target price of $126.40.

Insider Activity

In other Advanced Drainage Systems news, EVP Robert M. Klein sold 33,840 shares of the company’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 transaction, the executive vice president now owns 98,775 shares in the company, valued at approximately $8,159,802.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Advanced Drainage Systems news, SVP Michael G. Huebert sold 1,033 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $94.02, for a total value of $97,122.66. Following the transaction, the senior vice president now owns 49,729 shares in the company, valued at approximately $4,675,520.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert M. Klein sold 33,840 shares of the company’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 transaction of $2,795,522.40. Following the completion of the transaction, the executive vice president now owns 98,775 shares in the company, valued at approximately $8,159,802.75. The disclosure for this sale can be found here. 9.33% of the stock is owned by company insiders.

About Advanced Drainage Systems

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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.

See Also

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

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