Amalgamated Bank boosted its position in Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 10.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,087 shares of the construction company's stock after purchasing an additional 1,312 shares during the period. Amalgamated Bank's holdings in Advanced Drainage Systems were worth $1,674,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC grew its position in Advanced Drainage Systems by 1,168.4% in the 1st quarter. Signaturefd LLC now owns 482 shares of the construction company's stock worth $57,000 after purchasing an additional 444 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Advanced Drainage Systems by 59.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 538 shares of the construction company's stock worth $64,000 after purchasing an additional 200 shares in the last quarter. Van ECK Associates Corp boosted its stake in Advanced Drainage Systems by 80.1% in the first quarter. Van ECK Associates Corp now owns 670 shares of the construction company's stock valued at $80,000 after acquiring an additional 298 shares during the last quarter. Kepos Capital LP purchased a new position in Advanced Drainage Systems in the fourth quarter valued at about $85,000. Finally, Credit Agricole S A boosted its stake in Advanced Drainage Systems by 18.8% in the fourth quarter. Credit Agricole S A now owns 915 shares of the construction company's stock valued at $125,000 after acquiring an additional 145 shares during the last quarter. 82.97% of the stock is owned by institutional investors.
Get Advanced Drainage Systems alerts:Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of Advanced Drainage Systems from $142.00 to $120.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 28th. Barclays boosted their target price on shares of Advanced Drainage Systems from $135.00 to $164.00 and gave the company an "overweight" rating in a research note on Friday, August 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Advanced Drainage Systems in a research note on Wednesday, August 17th. They issued a "buy" rating and a $182.00 target price on the stock. Loop Capital dropped their target price on shares of Advanced Drainage Systems from $158.00 to $124.00 and set a "buy" rating on the stock in a research note on Friday, July 8th. Finally, Robert W. Baird boosted their target price on shares of Advanced Drainage Systems from $119.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $152.00.
Insider Buying and Selling
In related news, Director Anil Seetharam sold 26,806 shares of the company's stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $135.65, for a total transaction of $3,636,233.90. Following the sale, the director now owns 28,880 shares of the company's stock, valued at approximately $3,917,572. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Tim A. Makowski sold 5,796 shares of the company's stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $145.84, for a total transaction of $845,288.64. Following the sale, the insider now owns 7,510 shares of the company's stock, valued at approximately $1,095,258.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anil Seetharam sold 26,806 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $135.65, for a total transaction of $3,636,233.90. Following the completion of the transaction, the director now directly owns 28,880 shares in the company, valued at approximately $3,917,572. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 454,694 shares of company stock valued at $62,363,942. Company insiders own 9.33% of the company's stock.Advanced Drainage Systems Stock Performance
Shares of WMS stock opened at $119.63 on Tuesday. The stock has a market capitalization of $10.00 billion, a P/E ratio of 26.58 and a beta of 1.45. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 1.28. The firm's 50 day moving average is $131.36 and its 200 day moving average is $114.05. Advanced Drainage Systems, Inc. has a 12 month low of $80.81 and a 12 month high of $153.36.
Advanced Drainage Systems (NYSE:WMS – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The construction company reported $2.22 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $1.22. The company had revenue of $914.20 million for the quarter, compared to analysts' expectations of $849.39 million. Advanced Drainage Systems had a net margin of 12.65% and a return on equity of 47.99%. Advanced Drainage Systems's revenue was up 36.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 EPS. On average, sell-side analysts anticipate that Advanced Drainage Systems, Inc. will post 6.39 earnings per share for the current year.
Advanced Drainage Systems Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, August 31st. Advanced Drainage Systems's dividend payout ratio (DPR) is presently 10.67%.
About Advanced Drainage Systems
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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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