HighTower Advisors LLC Raises Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

HighTower Advisors LLC boosted its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,042 shares of the construction company’s stock after buying an additional 194 shares during the period. HighTower Advisors LLC’s holdings in Advanced Drainage Systems were worth $2,134,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Belpointe Asset Management LLC purchased a new stake in Advanced Drainage Systems in the 4th quarter worth $27,000. EverSource Wealth Advisors LLC purchased a new position in shares of Advanced Drainage Systems during the third quarter valued at about $30,000. Neo Ivy Capital Management purchased a new position in shares of Advanced Drainage Systems during the second quarter valued at about $33,000. Cullen Frost Bankers Inc. purchased a new position in shares of Advanced Drainage Systems during the third quarter valued at about $37,000. Finally, CWM LLC grew its position in shares of Advanced Drainage Systems by 63.1% during the fourth quarter. CWM LLC now owns 478 shares of the construction company’s stock valued at $39,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Advanced Drainage Systems Stock Down 0.5 %

Shares of NYSE WMS opened at $96.03 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.69 and a quick ratio of 1.46. The company has a market cap of $7.58 billion, a P/E ratio of 15.82, a PEG ratio of 1.08 and a beta of 1.38. Advanced Drainage Systems, Inc. has a 1 year low of $75.02 and a 1 year high of $153.36. The firm has a 50-day simple moving average of $83.98 and a two-hundred day simple moving average of $87.29.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last announced its quarterly earnings data on Thursday, May 18th. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.38. The business had revenue of $617.60 million during the quarter, compared to the consensus estimate of $567.10 million. Advanced Drainage Systems had a net margin of 16.51% and a return on equity of 52.49%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Research analysts anticipate that Advanced Drainage Systems, Inc. will post 5.24 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

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

Insider Activity

In other news, CAO Kevin C. Talley sold 22,006 shares of Advanced Drainage Systems stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $89.67, for a total transaction of $1,973,278.02. Following the completion of the sale, the chief accounting officer now owns 40,019 shares of the company’s stock, valued at $3,588,503.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WMS shares. Oppenheimer raised their price objective on Advanced Drainage Systems from $108.00 to $115.00 in a research report on Friday, May 19th. Robert W. Baird raised their price objective on Advanced Drainage Systems from $120.00 to $125.00 in a research report on Friday, May 19th. Morgan Stanley cut their price objective on Advanced Drainage Systems from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Barclays increased their price target on shares of Advanced Drainage Systems from $113.00 to $119.00 in a report on Friday, May 19th. Finally, Loop Capital increased their price target on shares of Advanced Drainage Systems from $115.00 to $120.00 in a report on Monday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.17.

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.