Shell Asset Management Co. purchased a new position in shares of Advanced Drainage Systems Inc (NYSE:WMS) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 13,950 shares of the construction company’s stock, valued at approximately $431,000.
A number of other institutional investors have also bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Advanced Drainage Systems during the second quarter worth approximately $101,000. Janney Montgomery Scott LLC acquired a new stake in Advanced Drainage Systems during the third quarter worth approximately $209,000. Trexquant Investment LP acquired a new stake in Advanced Drainage Systems during the third quarter worth approximately $226,000. State Board of Administration of Florida Retirement System acquired a new stake in Advanced Drainage Systems during the third quarter worth approximately $250,000. Finally, Valeo Financial Advisors LLC acquired a new stake in Advanced Drainage Systems during the second quarter worth approximately $338,000. Institutional investors and hedge funds own 79.71% of the company’s stock.
Shares of WMS stock opened at $25.75 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.31 and a quick ratio of 1.19. Advanced Drainage Systems Inc has a 12-month low of $21.70 and a 12-month high of $33.50. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 22.03 and a beta of 1.01.
Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, November 8th. The construction company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Advanced Drainage Systems had a net margin of 6.20% and a return on equity of 46.15%. The company had revenue of $406.56 million during the quarter, compared to the consensus estimate of $417.03 million. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Advanced Drainage Systems Inc will post 1.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.24%. Advanced Drainage Systems’s payout ratio is 39.51%.
Several equities research analysts have issued reports on the stock. Barclays raised their price objective on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, August 13th. Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. Robert W. Baird restated a “buy” rating and set a $35.00 price objective on shares of Advanced Drainage Systems in a research report on Friday, August 10th. Citigroup cut their price objective on shares of Advanced Drainage Systems from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, November 12th. Finally, Boenning Scattergood restated a “hold” rating on shares of Advanced Drainage Systems in a research report on Friday, November 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Advanced Drainage Systems has a consensus rating of “Hold” and a consensus price target of $32.00.
Advanced Drainage Systems Profile
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.
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