Truist Financial Corp Buys New Shares in Advanced Drainage Systems, Inc. (NYSE:WMS)

Truist Financial Corp bought a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,524 shares of the construction company’s stock, valued at approximately $439,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Hawaiian Bank increased its position in shares of Advanced Drainage Systems by 43.9% in the second quarter. First Hawaiian Bank now owns 6,605 shares of the construction company’s stock valued at $595,000 after acquiring an additional 2,015 shares during the last quarter. Sei Investments Co. increased its position in Advanced Drainage Systems by 86.1% during the second quarter. Sei Investments Co. now owns 241,224 shares of the construction company’s stock worth $21,668,000 after buying an additional 111,611 shares during the last quarter. Ellevest Inc. acquired a new position in Advanced Drainage Systems during the second quarter worth approximately $78,000. Xponance Inc. increased its position in Advanced Drainage Systems by 1.4% during the second quarter. Xponance Inc. now owns 7,123 shares of the construction company’s stock worth $642,000 after buying an additional 95 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Advanced Drainage Systems by 2.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,144,133 shares of the construction company’s stock worth $103,051,000 after buying an additional 23,902 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Advanced Drainage Systems Trading Up 1.3 %

Shares of NYSE:WMS opened at $90.31 on Tuesday. Advanced Drainage Systems, Inc. has a 12-month low of $79.90 and a 12-month high of $153.36. The stock has a market cap of $7.48 billion, a PE ratio of 16.66 and a beta of 1.30. The business has a 50 day moving average of $87.82 and a 200-day moving average of $110.28. The company has a quick ratio of 1.98, a current ratio of 3.07 and a debt-to-equity ratio of 1.22.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last issued its quarterly earnings data 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). The firm had revenue of $884.20 million for the quarter, compared to the consensus estimate of $928.04 million. Advanced Drainage Systems had a return on equity of 51.62% and a net margin of 14.34%. The company’s revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 EPS. As a group, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.01 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Wednesday, November 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 8.86%.

Insider Activity at Advanced Drainage Systems

In related news, Director De La Mesa Manuel J. Perez purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was acquired at an average cost of $81.90 per share, for a total transaction of $409,500.00. Following the completion of the purchase, the director now owns 18,493 shares in the company, valued at approximately $1,514,576.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director De La Mesa Manuel J. Perez purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was acquired at an average cost of $81.90 per share, for a total transaction of $409,500.00. Following the completion of the purchase, the director now owns 18,493 shares in the company, valued at approximately $1,514,576.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael G. Huebert sold 1,033 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $94.02, for a total value of $97,122.66. Following the sale, the senior vice president now owns 49,729 shares of the company’s stock, valued at $4,675,520.58. The disclosure for this sale can be found here. 9.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WMS. Robert W. Baird lowered their price target on Advanced Drainage Systems from $168.00 to $121.00 in a research report on Friday, November 4th. Morgan Stanley lowered their price target on Advanced Drainage Systems from $152.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, November 7th. StockNews.com began coverage on Advanced Drainage Systems in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Barclays boosted their price target on Advanced Drainage Systems from $122.00 to $127.00 in a research report on Wednesday, December 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Advanced Drainage Systems from $159.00 to $140.00 in a report on Monday, November 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.40.

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.