Zurcher Kantonalbank Zurich Cantonalbank Acquires 8,753 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 10.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,493 shares of the construction company's stock after acquiring an additional 8,753 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.12% of Advanced Drainage Systems worth $13,571,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Contravisory Investment Management Inc. bought a new stake in Advanced Drainage Systems during the fourth quarter valued at approximately $27,000. NBC Securities Inc. purchased a new stake in shares of Advanced Drainage Systems during the 3rd quarter valued at $25,000. Neo Ivy Capital Management bought a new stake in shares of Advanced Drainage Systems during the 2nd quarter worth $33,000. ORG Partners LLC purchased a new position in Advanced Drainage Systems in the fourth quarter worth $60,000. Finally, Belpointe Asset Management LLC increased its stake in Advanced Drainage Systems by 47.8% in the first quarter. Belpointe Asset Management LLC now owns 495 shares of the construction company's stock valued at $42,000 after acquiring an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WMS shares. StockNews.com lowered Advanced Drainage Systems from a "buy" rating to a "hold" rating in a research note on Monday, April 8th. KeyCorp boosted their target price on Advanced Drainage Systems from $160.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, February 9th. Stephens lifted their price target on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an "overweight" rating in a research note on Friday, February 9th. Finally, Oppenheimer boosted their price objective on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.13.

Advanced Drainage Systems Trading Down 0.8 %

Shares of NYSE:WMS traded down $1.24 during trading on Friday, reaching $155.57. 699,953 shares of the company traded hands, compared to its average volume of 472,656. The company has a current ratio of 3.03, a quick ratio of 2.04 and a debt-to-equity ratio of 1.18. Advanced Drainage Systems, Inc. has a 52-week low of $80.41 and a 52-week high of $176.31. The business's fifty day moving average is $164.91 and its 200-day moving average is $138.60. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 1.37 and a beta of 1.50.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.44. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The business had revenue of $662.37 million for the quarter, compared to analyst estimates of $632.69 million. During the same quarter last year, the firm earned $0.99 EPS. The company's revenue was up 1.1% on a year-over-year basis. As a group, analysts forecast that Advanced Drainage Systems, Inc. will post 6.07 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Thursday, February 29th. Advanced Drainage Systems's payout ratio is 8.90%.

Insider Activity at Advanced Drainage Systems

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 value of $124,351,885.00. Following the completion of the transaction, the director now directly owns 70,749 shares in the company, valued at approximately $11,532,087. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael G. Huebert sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total value 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 approximately $2,199,344. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ross M. Jones sold 762,895 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total value of $124,351,885.00. Following the completion of the transaction, the director now owns 70,749 shares of the company's stock, valued at approximately $11,532,087. The disclosure for this sale can be found here. 3.79% of the stock is currently owned by company insiders.

Advanced Drainage Systems 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.