Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 340,457 shares of the construction company’s stock after purchasing an additional 27,272 shares during the period. Federated Hermes Inc. owned 0.44% of Advanced Drainage Systems worth $47,882,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in Advanced Drainage Systems by 11.6% in the 1st quarter. American Century Companies Inc. now owns 7,487 shares of the construction company’s stock valued at $890,000 after purchasing an additional 779 shares during the last quarter. Natixis Advisors L.P. acquired a new position in shares of Advanced Drainage Systems during the first quarter worth approximately $1,741,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Advanced Drainage Systems by 61.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,606 shares of the construction company’s stock worth $1,141,000 after buying an additional 3,653 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Advanced Drainage Systems in the 1st quarter valued at approximately $472,000. Finally, Sei Investments Co. raised its stake in Advanced Drainage Systems by 20.7% during the 1st quarter. Sei Investments Co. now owns 129,613 shares of the construction company’s stock valued at $15,325,000 after acquiring an additional 22,202 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

WMS has been the subject of several recent analyst reports. Stephens increased their price target on Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. StockNews.com cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Oppenheimer upped their price target on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, KeyCorp increased their price objective on shares of Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $159.13.

Insiders Place Their Bets

In other news, EVP Michael G. Huebert sold 10,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total value of $1,635,200.00. Following the completion of the sale, the executive vice president now owns 13,450 shares in the company, valued at $2,199,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Michael G. Huebert sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the transaction, the executive vice president now directly owns 13,450 shares of the company’s stock, valued at $2,199,344. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ross M. Jones sold 762,895 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total value of $124,351,885.00. Following the sale, the director now owns 70,749 shares of the company’s stock, valued at $11,532,087. The disclosure for this sale can be found here. Corporate insiders own 3.79% of the company’s stock.

Advanced Drainage Systems Price Performance

Shares of NYSE:WMS opened at $155.57 on Friday. The company has a market capitalization of $12.08 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.37 and a beta of 1.50. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.04 and a current ratio of 3.03. The stock has a fifty day moving average of $164.78 and a 200-day moving average of $138.89. Advanced Drainage Systems, Inc. has a one year low of $80.41 and a one year high of $176.31.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, February 8th. The construction company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.44. Advanced Drainage Systems had a return on equity of 49.79% and a net margin of 17.65%. The business had revenue of $662.37 million during the quarter, compared to analyst estimates of $632.69 million. During the same quarter last year, the company posted $0.99 EPS. Advanced Drainage Systems’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts anticipate that Advanced Drainage Systems, Inc. will post 6.09 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Thursday, February 29th. Advanced Drainage Systems’s dividend payout ratio is 8.90%.

Advanced Drainage Systems 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.