Vanguard Group Inc. Decreases Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Vanguard Group Inc. cut its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,870,070 shares of the construction company’s stock after selling 8,656 shares during the period. Vanguard Group Inc. owned about 0.09% of Advanced Drainage Systems worth $966,207,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Cerity Partners LLC raised its stake in Advanced Drainage Systems by 428.8% in the fourth quarter. Cerity Partners LLC now owns 22,449 shares of the construction company’s stock valued at $3,157,000 after buying an additional 18,204 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Advanced Drainage Systems by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 633,392 shares of the construction company’s stock valued at $89,086,000 after acquiring an additional 15,690 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Advanced Drainage Systems by 82.9% during the 4th quarter. Pacer Advisors Inc. now owns 13,990 shares of the construction company’s stock worth $1,968,000 after acquiring an additional 6,343 shares in the last quarter. Natixis Advisors L.P. raised its position in shares of Advanced Drainage Systems by 9.8% during the 4th quarter. Natixis Advisors L.P. now owns 174,580 shares of the construction company’s stock worth $24,552,000 after acquiring an additional 15,557 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in Advanced Drainage Systems by 18.1% during the fourth quarter. Raymond James & Associates now owns 42,273 shares of the construction company’s stock worth $5,945,000 after purchasing an additional 6,467 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WMS shares. KeyCorp raised their price objective on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Barclays lifted their price target on shares of Advanced Drainage Systems from $189.00 to $202.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Oppenheimer upped their price objective on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Stephens lifted their target price on Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Finally, StockNews.com raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $181.88.

Insider Activity at Advanced Drainage Systems

In other Advanced Drainage Systems news, insider D. Scott Barbour sold 85,938 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $174.10, for a total transaction of $14,961,805.80. Following the completion of the transaction, the insider now owns 45,994 shares in the company, valued at approximately $8,007,555.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Tim A. Makowski sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $170.68, for a total value of $648,584.00. Following the completion of the sale, the insider now directly owns 4,530 shares of the company’s stock, valued at approximately $773,180.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider D. Scott Barbour sold 85,938 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $174.10, for a total value of $14,961,805.80. Following the transaction, the insider now directly owns 45,994 shares in the company, valued at approximately $8,007,555.40. The disclosure for this sale can be found here. Insiders have sold a total of 176,004 shares of company stock worth $30,547,285 in the last three months. Insiders own 2.05% of the company’s stock.

Advanced Drainage Systems Price Performance

Shares of NYSE:WMS opened at $165.20 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.90 and a current ratio of 2.96. Advanced Drainage Systems, Inc. has a one year low of $102.32 and a one year high of $184.27. The company has a 50-day simple moving average of $167.86 and a 200-day simple moving average of $155.73. The stock has a market capitalization of $12.80 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.45 and a beta of 1.58.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, May 16th. The construction company reported $1.23 EPS for the quarter, beating the consensus estimate of $0.95 by $0.28. Advanced Drainage Systems had a return on equity of 46.93% and a net margin of 17.74%. The firm had revenue of $653.80 million during the quarter, compared to the consensus estimate of $611.99 million. During the same period in the prior year, the business earned $1.06 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. On average, analysts predict that Advanced Drainage Systems, Inc. will post 7.17 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 0.39%. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 9.94%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.