Green Alpha Advisors LLC Sells 139 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Green Alpha Advisors LLC trimmed its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,137 shares of the construction company’s stock after selling 139 shares during the quarter. Green Alpha Advisors LLC’s holdings in Advanced Drainage Systems were worth $471,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Prudential Financial Inc. lifted its holdings in shares of Advanced Drainage Systems by 3.8% during the second quarter. Prudential Financial Inc. now owns 2,238 shares of the construction company’s stock valued at $203,000 after purchasing an additional 82 shares in the last quarter. Mather Group LLC. increased its position in Advanced Drainage Systems by 4.9% during the fourth quarter. Mather Group LLC. now owns 2,916 shares of the construction company’s stock valued at $239,000 after acquiring an additional 136 shares during the last quarter. Intrust Bank NA increased its position in Advanced Drainage Systems by 3.7% during the first quarter. Intrust Bank NA now owns 3,983 shares of the construction company’s stock valued at $335,000 after acquiring an additional 143 shares during the last quarter. Amalgamated Bank increased its position in Advanced Drainage Systems by 1.0% during the fourth quarter. Amalgamated Bank now owns 14,718 shares of the construction company’s stock valued at $1,206,000 after acquiring an additional 148 shares during the last quarter. Finally, First Hawaiian Bank increased its position in Advanced Drainage Systems by 5.1% during the first quarter. First Hawaiian Bank now owns 3,110 shares of the construction company’s stock valued at $262,000 after acquiring an additional 150 shares during the last quarter. 84.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Loop Capital upped their price objective on Advanced Drainage Systems from $115.00 to $120.00 in a research report on Monday, May 22nd. Stephens assumed coverage on Advanced Drainage Systems in a research report on Thursday, August 24th. They issued an “overweight” rating and a $148.00 price target for the company. Barclays upped their price target on Advanced Drainage Systems from $138.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Oppenheimer upped their price target on Advanced Drainage Systems from $140.00 to $148.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. Finally, KeyCorp upped their price target on Advanced Drainage Systems from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, August 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Insider Activity

In related news, Director Anil Seetharam sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $124.88, for a total transaction of $18,732,000.00. Following the completion of the sale, the director now directly owns 1,317,649 shares of the company’s stock, valued at approximately $164,548,007.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Anil Seetharam sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $124.88, for a total transaction of $18,732,000.00. Following the completion of the sale, the director now directly owns 1,317,649 shares of the company’s stock, valued at approximately $164,548,007.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Darin S. Harvey sold 3,323 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $134.52, for a total value of $447,009.96. Following the transaction, the executive vice president now owns 4,171 shares in the company, valued at $561,082.92. The disclosure for this sale can be found here. Insiders sold 565,774 shares of company stock valued at $71,489,961 in the last ninety days. Insiders own 3.79% of the company’s stock.

Advanced Drainage Systems Price Performance

Shares of Advanced Drainage Systems stock opened at $123.22 on Friday. The stock has a 50 day moving average of $124.31 and a 200 day moving average of $103.58. Advanced Drainage Systems, Inc. has a 12 month low of $75.02 and a 12 month high of $136.53. The firm has a market cap of $9.70 billion, a PE ratio of 20.43, a PEG ratio of 1.86 and a beta of 1.39. The company has a current ratio of 2.78, a quick ratio of 1.75 and a debt-to-equity ratio of 1.34.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.51. The business had revenue of $778.00 million during the quarter, compared to analyst estimates of $746.08 million. Advanced Drainage Systems had a return on equity of 50.53% and a net margin of 16.82%. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period last year, the company earned $2.22 EPS. On average, research analysts expect that Advanced Drainage Systems, Inc. will post 5.63 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, August 31st. Advanced Drainage Systems’s payout ratio is 9.29%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.