Vanguard Group Inc. Sells 28,194 Shares of Advanced Drainage Systems, Inc. $WMS

Vanguard Group Inc. lowered its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 0.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,480,781 shares of the construction company’s stock after selling 28,194 shares during the period. Vanguard Group Inc. owned approximately 9.62% of Advanced Drainage Systems worth $1,037,584,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WMS. Bridges Investment Management Inc. boosted its stake in shares of Advanced Drainage Systems by 32.9% in the third quarter. Bridges Investment Management Inc. now owns 28,122 shares of the construction company’s stock valued at $3,901,000 after buying an additional 6,960 shares during the period. Mediolanum International Funds Ltd acquired a new position in Advanced Drainage Systems in the 3rd quarter valued at $24,314,000. Essex Investment Management Co. LLC lifted its position in shares of Advanced Drainage Systems by 345.7% during the 3rd quarter. Essex Investment Management Co. LLC now owns 42,898 shares of the construction company’s stock valued at $5,950,000 after acquiring an additional 33,274 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Advanced Drainage Systems during the 3rd quarter valued at $1,321,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Advanced Drainage Systems by 29.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 19,982 shares of the construction company’s stock worth $2,772,000 after purchasing an additional 4,574 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Advanced Drainage Systems

In other news, Director Robert M. Eversole sold 10,569 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $152.82, for a total transaction of $1,615,154.58. Following the completion of the transaction, the director owned 50,076 shares of the company’s stock, valued at approximately $7,652,614.32. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Wednesday, January 21st. Robert W. Baird set a $205.00 price target on Advanced Drainage Systems in a research note on Friday, February 6th. UBS Group set a $215.00 price target on Advanced Drainage Systems and gave the stock a “buy” rating in a report on Friday, February 6th. Barclays raised their price objective on Advanced Drainage Systems from $187.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, Oppenheimer boosted their target price on Advanced Drainage Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and a consensus price target of $186.00.

Advanced Drainage Systems Trading Down 0.3%

Shares of WMS stock opened at $170.63 on Friday. Advanced Drainage Systems, Inc. has a twelve month low of $93.92 and a twelve month high of $179.32. The stock’s fifty day simple moving average is $156.88 and its 200 day simple moving average is $147.79. The company has a quick ratio of 3.08, a current ratio of 4.12 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $13.29 billion, a P/E ratio of 28.39, a P/E/G ratio of 2.01 and a beta of 1.34.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, February 5th. The construction company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.16. The firm had revenue of $693.35 million for the quarter, compared to analyst estimates of $686.37 million. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the firm posted $1.09 earnings per share. As a group, sell-side analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, March 2nd. Advanced Drainage Systems’s payout ratio is presently 11.98%.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.