Raymond James & Associates Has $4 Million Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Raymond James & Associates trimmed its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,791 shares of the construction company’s stock after selling 2,578 shares during the quarter. Raymond James & Associates’ holdings in Advanced Drainage Systems were worth $3,999,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

WMS has been the topic of several research reports. StockNews.com began coverage on Advanced Drainage Systems in a report on Thursday, May 18th. They set a “hold” rating on the stock. Barclays upped their price target on shares of Advanced Drainage Systems from $113.00 to $119.00 in a research report on Friday, May 19th. Robert W. Baird lifted their price target on shares of Advanced Drainage Systems from $120.00 to $125.00 in a report on Friday, May 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Advanced Drainage Systems from $125.00 to $131.00 in a research note on Friday, May 19th. Finally, Loop Capital raised their target price on Advanced Drainage Systems from $115.00 to $120.00 in a research report on Monday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.17.

Advanced Drainage Systems Trading Down 0.3 %

WMS opened at $95.76 on Thursday. Advanced Drainage Systems, Inc. has a twelve month low of $75.02 and a twelve month high of $153.36. The company has a fifty day moving average of $84.30 and a 200-day moving average of $87.35. The stock has a market cap of $7.56 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.08 and a beta of 1.38. The company has a quick ratio of 1.46, a current ratio of 2.69 and a debt-to-equity ratio of 1.55.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last issued its quarterly earnings results on Thursday, May 18th. The construction company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $617.60 million during the quarter, compared to the consensus estimate of $567.10 million. During the same period last year, the business posted $0.95 EPS. The business’s revenue was down 8.9% compared to the same quarter last year. On average, sell-side analysts predict that Advanced Drainage Systems, Inc. will post 5.24 EPS for the current year.

Advanced Drainage Systems Increases Dividend

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

Insider Buying and Selling at Advanced Drainage Systems

In other news, CAO Kevin C. Talley sold 22,006 shares of the firm’s 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 approximately $3,588,503.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.33% of the company’s stock.

Advanced Drainage Systems 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.