Posted by admin on Aug 17th, 2022 
Commerce Bank boosted its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 4.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,190 shares of the construction company’s stock after purchasing an additional 141 shares during the quarter. Commerce Bank’s holdings in Advanced Drainage Systems were worth $379,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in Advanced Drainage Systems by 5.7% in the 4th quarter. State Street Corp now owns 843,902 shares of the construction company’s stock worth $114,880,000 after purchasing an additional 45,708 shares during the period. Principal Financial Group Inc. boosted its stake in Advanced Drainage Systems by 31.3% in the 4th quarter. Principal Financial Group Inc. now owns 49,030 shares of the construction company’s stock worth $6,674,000 after purchasing an additional 11,696 shares during the period. UMB Bank N A MO bought a new position in Advanced Drainage Systems in the 4th quarter worth approximately $86,000. Argent Capital Management LLC boosted its stake in Advanced Drainage Systems by 1.5% in the 4th quarter. Argent Capital Management LLC now owns 23,814 shares of the construction company’s stock worth $3,242,000 after purchasing an additional 356 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Advanced Drainage Systems by 11.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 105,901 shares of the construction company’s stock worth $12,582,000 after purchasing an additional 11,303 shares during the period. 98.10% of the stock is currently owned by institutional investors.
Several research firms have weighed in on WMS. Morgan Stanley dropped their price target on Advanced Drainage Systems from $142.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. Robert W. Baird increased their target price on Advanced Drainage Systems from $119.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. Barclays increased their target price on Advanced Drainage Systems from $135.00 to $164.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Loop Capital lowered their target price on Advanced Drainage Systems from $158.00 to $124.00 and set a “buy” rating for the company in a research report on Friday, July 8th. Finally, TheStreet downgraded Advanced Drainage Systems from a “b” rating to a “c+” rating in a research report on Thursday, May 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.50.
Shares of WMS opened at $152.83 on Wednesday. The company has a market cap of $12.77 billion, a PE ratio of 33.96 and a beta of 1.51. The business has a fifty day moving average of $105.70 and a 200 day moving average of $110.07. Advanced Drainage Systems, Inc. has a 52-week low of $80.81 and a 52-week high of $153.36. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 1.28.
Advanced Drainage Systems (NYSE:WMS – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The construction company reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $1.22. The company had revenue of $914.20 million during the quarter, compared to the consensus estimate of $849.39 million. Advanced Drainage Systems had a return on equity of 47.99% and a net margin of 12.65%. Advanced Drainage Systems’s revenue was up 36.6% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. On average, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a $0.12 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.48 dividend on an annualized basis and a yield of 0.31%. Advanced Drainage Systems’s payout ratio is 10.67%.
In other Advanced Drainage Systems news, EVP Darin S. Harvey sold 5,985 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $147.98, for a total value of $885,660.30. Following the sale, the executive vice president now owns 4,600 shares in the company, valued at $680,708. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Advanced Drainage Systems news, EVP Darin S. Harvey sold 5,985 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $147.98, for a total value of $885,660.30. Following the sale, the executive vice president now owns 4,600 shares in the company, valued at $680,708. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Tim A. Makowski sold 5,796 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $145.84, for a total value of $845,288.64. Following the completion of the sale, the insider now owns 7,510 shares in the company, valued at approximately $1,095,258.40. The disclosure for this sale can be found here. Insiders have sold a total of 403,913 shares of company stock worth $45,944,459 over the last quarter. Company insiders own 9.33% of the company’s stock.
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Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the underground construction and infrastructure marketplace in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.
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