Cerity Partners LLC lifted its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 428.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,449 shares of the construction company's stock after buying an additional 18,204 shares during the quarter. Cerity Partners LLC's holdings in Advanced Drainage Systems were worth $3,157,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Prudential Financial Inc. grew its holdings in Advanced Drainage Systems by 3.8% during the second quarter. Prudential Financial Inc. now owns 2,238 shares of the construction company's stock valued at $203,000 after purchasing an additional 82 shares during the period. Kessler Investment Group LLC grew its holdings in Advanced Drainage Systems by 9.1% during the third quarter. Kessler Investment Group LLC now owns 1,245 shares of the construction company's stock valued at $142,000 after purchasing an additional 104 shares during the period. Captrust Financial Advisors grew its holdings in Advanced Drainage Systems by 4.6% during the second quarter. Captrust Financial Advisors now owns 2,525 shares of the construction company's stock valued at $287,000 after purchasing an additional 112 shares during the period. Belpointe Asset Management LLC grew its holdings in Advanced Drainage Systems by 47.8% during the first quarter. Belpointe Asset Management LLC now owns 495 shares of the construction company's stock valued at $42,000 after purchasing an additional 160 shares during the period. Finally, Creative Planning grew its holdings in Advanced Drainage Systems by 4.3% during the third quarter. Creative Planning now owns 3,893 shares of the construction company's stock valued at $443,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 89.83% of the company's stock.
Insiders Place Their Bets
In other Advanced Drainage Systems news, Director Ross M. Jones sold 762,895 shares of the company's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the sale, the director now directly owns 70,749 shares of the company's stock, valued at $11,532,087. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Advanced Drainage Systems news, Director Ross M. Jones sold 762,895 shares of the company's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the sale, the director now directly owns 70,749 shares of the company's stock, valued at $11,532,087. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael G. Huebert sold 10,000 shares of the company's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the completion of the transaction, the executive vice president now owns 13,450 shares in the company, valued at $2,199,344. The disclosure for this sale can be found here. Insiders own 3.79% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on WMS. Oppenheimer boosted their price objective on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday. StockNews.com cut shares of Advanced Drainage Systems from a "buy" rating to a "hold" rating in a report on Monday, April 8th. KeyCorp upped their price target on shares of Advanced Drainage Systems from $160.00 to $185.00 and gave the company an "overweight" rating in a report on Friday, February 9th. Finally, Stephens upped their price target on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the company an "overweight" rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Advanced Drainage Systems currently has an average rating of "Moderate Buy" and an average price target of $159.13.
Read Our Latest Stock Report on WMS
Advanced Drainage Systems Stock Down 0.1 %
Shares of WMS stock traded down $0.18 during trading on Thursday, reaching $156.73. The company's stock had a trading volume of 384,512 shares, compared to its average volume of 469,625. The business has a fifty day moving average price of $164.91 and a 200-day moving average price of $138.60. The company has a quick ratio of 2.04, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. The company has a market cap of $12.17 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 1.41 and a beta of 1.50. Advanced Drainage Systems, Inc. has a one year low of $80.41 and a one year high of $176.31.
Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.44. The business had revenue of $662.37 million for the quarter, compared to analyst estimates of $632.69 million. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Analysts anticipate that Advanced Drainage Systems, Inc. will post 6.07 earnings per share for the current year.
Advanced Drainage Systems Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.36%. The ex-dividend date was Thursday, February 29th. Advanced Drainage Systems's dividend payout ratio (DPR) is currently 8.90%.
About Advanced Drainage Systems
(
Free Report)
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.
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