Citigroup Inc. Increases Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Citigroup Inc. increased its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 148.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 48,521 shares of the construction company’s stock after purchasing an additional 28,994 shares during the period. Citigroup Inc.’s holdings in Advanced Drainage Systems were worth $3,977,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC acquired a new stake in Advanced Drainage Systems during the 3rd quarter worth about $30,000. Cullen Frost Bankers Inc. acquired a new stake in Advanced Drainage Systems during the 3rd quarter worth about $37,000. Belpointe Asset Management LLC acquired a new stake in Advanced Drainage Systems during the 4th quarter worth about $27,000. Neo Ivy Capital Management acquired a new stake in Advanced Drainage Systems during the 2nd quarter worth about $33,000. Finally, Huntington National Bank lifted its position in Advanced Drainage Systems by 39.1% during the 3rd quarter. Huntington National Bank now owns 470 shares of the construction company’s stock worth $58,000 after acquiring an additional 132 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Price Performance

NYSE:WMS opened at $96.55 on Monday. Advanced Drainage Systems, Inc. has a 12 month low of $75.02 and a 12 month high of $153.36. The stock has a 50 day moving average of $83.45 and a two-hundred day moving average of $87.12. The company has a current ratio of 2.69, a quick ratio of 1.89 and a debt-to-equity ratio of 1.55. The firm has a market cap of $7.84 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 1.04 and a beta of 1.38.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last posted its quarterly earnings data on Thursday, May 18th. The construction company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.68 by $0.38. Advanced Drainage Systems had a return on equity of 52.49% and a net margin of 16.51%. The company had revenue of $617.60 million during the quarter, compared to analyst estimates of $567.10 million. During the same period in the previous year, the business earned $0.95 EPS. Advanced Drainage Systems’s quarterly revenue was down 8.9% on a year-over-year basis. On average, analysts expect that Advanced Drainage Systems, Inc. will post 5.28 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a dividend of $0.14 per share. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Wednesday, May 31st. Advanced Drainage Systems’s payout ratio is 7.91%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Advanced Drainage Systems from $125.00 to $131.00 in a research report on Friday. StockNews.com began coverage on Advanced Drainage Systems in a report on Thursday. They issued a “hold” rating for the company. Barclays boosted their price objective on Advanced Drainage Systems from $113.00 to $119.00 in a report on Friday. Loop Capital decreased their price objective on Advanced Drainage Systems from $118.00 to $115.00 and set a “buy” rating for the company in a report on Friday, March 24th. Finally, Morgan Stanley cut their price target on Advanced Drainage Systems from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus price target of $118.33.

Insiders Place Their Bets

In other news, CAO Kevin C. Talley sold 22,006 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $89.67, for a total value of $1,973,278.02. Following the completion of the sale, the chief accounting officer now directly owns 40,019 shares in the company, valued at $3,588,503.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.33% of the stock is owned by company 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.