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Private Advisor Group LLC Makes New $844,000 Investment in Advanced Drainage Systems, Inc. (NYSE:WMS)

Defense World · Oct 4, 2022 04:41

Private Advisor Group LLC bought a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,367 shares of the construction company's stock, valued at approximately $844,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Handelsinvest Investeringsforvaltning grew its position in shares of Advanced Drainage Systems by 8.9% during the 2nd quarter. Handelsinvest Investeringsforvaltning now owns 49,000 shares of the construction company's stock worth $4,413,000 after purchasing an additional 4,000 shares in the last quarter. Amalgamated Bank boosted its position in shares of Advanced Drainage Systems by 10.3% during the 1st quarter. Amalgamated Bank now owns 14,087 shares of the construction company's stock worth $1,674,000 after acquiring an additional 1,312 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Advanced Drainage Systems during the 1st quarter worth approximately $254,000. The Manufacturers Life Insurance Company boosted its position in shares of Advanced Drainage Systems by 34.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 23,766 shares of the construction company's stock worth $2,824,000 after acquiring an additional 6,128 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Advanced Drainage Systems by 73.8% during the 1st quarter. Capital International Investors now owns 561,578 shares of the construction company's stock worth $66,721,000 after acquiring an additional 238,522 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

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Advanced Drainage Systems Price Performance

WMS stock opened at $129.27 on Tuesday. The company has a fifty day moving average price of $133.55 and a 200-day moving average price of $114.24. The company has a market capitalization of $10.80 billion, a P/E ratio of 28.73 and a beta of 1.45. Advanced Drainage Systems, Inc. has a 52-week low of $80.81 and a 52-week high of $153.36. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.81 and a current ratio of 2.78.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The construction company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $1.22. The firm had revenue of $914.20 million during the quarter, compared to the consensus estimate of $849.39 million. Advanced Drainage Systems had a net margin of 12.65% and a return on equity of 47.99%. The company's revenue for the quarter was up 36.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share. As a group, equities analysts expect that Advanced Drainage Systems, Inc. will post 6.39 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Wednesday, August 31st. Advanced Drainage Systems's payout ratio is currently 10.67%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Loop Capital reduced their price target on shares of Advanced Drainage Systems from $158.00 to $124.00 and set a "buy" rating on the stock in a research report on Friday, July 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Advanced Drainage Systems in a research note on Wednesday, August 17th. They issued a "buy" rating and a $182.00 price objective for the company. Robert W. Baird increased their price objective 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. Morgan Stanley dropped their price objective on shares of 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. Finally, Barclays increased their price objective 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $152.00.

Insider Activity

In related news, Director Anil Seetharam sold 26,806 shares of Advanced Drainage Systems stock in a transaction 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 completion of the transaction, the director now owns 28,880 shares of the company's stock, valued at $3,917,572. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Alexander R. Fischer sold 4,000 shares of Advanced Drainage Systems stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $146.71, for a total transaction of $586,840.00. Following the completion of the transaction, the director now owns 16,453 shares of the company's stock, valued at $2,413,819.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anil Seetharam sold 26,806 shares of Advanced Drainage Systems 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 transaction, the director now directly owns 28,880 shares of the company's stock, valued at approximately $3,917,572. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 454,694 shares of company stock valued at $62,363,942. Insiders own 9.33% of the company's stock.

Advanced Drainage Systems Company Profile

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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.