abrdn plc Grows Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

abrdn plc boosted its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 164.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 377,587 shares of the construction company's stock after buying an additional 234,883 shares during the period. abrdn plc owned approximately 0.48% of Advanced Drainage Systems worth $53,104,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Kessler Investment Group LLC raised its holdings in Advanced Drainage Systems by 9.1% in the 3rd quarter. Kessler Investment Group LLC now owns 1,245 shares of the construction company's stock valued at $142,000 after buying an additional 104 shares during the last quarter. FMR LLC raised its holdings in Advanced Drainage Systems by 0.7% in the 3rd quarter. FMR LLC now owns 25,233 shares of the construction company's stock valued at $2,872,000 after buying an additional 186 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Advanced Drainage Systems in the 4th quarter valued at approximately $27,000. Nisa Investment Advisors LLC raised its holdings in Advanced Drainage Systems by 28.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 900 shares of the construction company's stock valued at $102,000 after buying an additional 200 shares during the last quarter. Finally, AE Wealth Management LLC raised its holdings in Advanced Drainage Systems by 2.5% in the 3rd quarter. AE Wealth Management LLC now owns 8,702 shares of the construction company's stock valued at $991,000 after buying an additional 214 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ross M. Jones sold 762,895 shares of Advanced Drainage Systems 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 sale, the director now owns 70,749 shares in the company, valued at approximately $11,532,087. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ross M. Jones sold 762,895 shares of Advanced Drainage Systems 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 sale, the director now owns 70,749 shares of the company's stock, valued at approximately $11,532,087. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael G. Huebert sold 10,000 shares of Advanced Drainage Systems 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 sale, the executive vice president now directly owns 13,450 shares of the company's stock, valued at approximately $2,199,344. The disclosure for this sale can be found here. 3.79% of the stock is currently owned by company insiders.

Advanced Drainage Systems Trading Up 0.6 %

Shares of NYSE:WMS traded up $0.96 during mid-day trading on Monday, hitting $156.53. The company had a trading volume of 352,289 shares, compared to its average volume of 471,094. The firm has a fifty day moving average price of $164.64 and a 200 day moving average price of $139.54. The company has a market capitalization of $12.15 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.37 and a beta of 1.50. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 2.04. 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 released its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.44. The company had revenue of $662.37 million during 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%. Advanced Drainage Systems's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, research analysts forecast that Advanced Drainage Systems, Inc. will post 6.09 EPS for the current year.

Advanced Drainage Systems Announces Dividend

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

Wall Street Analyst Weigh In

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

About Advanced Drainage Systems

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.