Insider Buying: Advanced Drainage Systems, Inc. (WMS) Chairman Buys 10,000 Shares of Stock
Advanced Drainage Systems, Inc. (NYSE:WMS) Chairman Joseph A. Chlapaty purchased 10,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was bought at an average price of $20.28 per share, for a total transaction of $202,800.00. Following the purchase, the chairman now owns 227,786 shares in the company, valued at $4,619,500.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Advanced Drainage Systems, Inc. (NYSE:WMS) traded up 1.25% during mid-day trading on Friday, hitting $20.25. 505,845 shares of the stock traded hands. Advanced Drainage Systems, Inc. has a 12 month low of $18.60 and a 12 month high of $28.49. The firm has a 50 day moving average of $21.42 and a 200 day moving average of $21.99. The company has a market cap of $1.12 billion, a P/E ratio of 40.50 and a beta of 0.93.
Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, May 25th. The construction company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.14. The business had revenue of $244.20 million during the quarter, compared to analysts’ expectations of $228.82 million. Advanced Drainage Systems had a return on equity of 102.23% and a net margin of 3.05%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. Equities analysts anticipate that Advanced Drainage Systems, Inc. will post $1.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Monday, June 5th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, June 1st. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 1.38%. Advanced Drainage Systems’s payout ratio is 50.00%.
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A number of institutional investors have recently modified their holdings of the company. Sei Investments Co. purchased a new position in shares of Advanced Drainage Systems during the first quarter worth approximately $157,000. Manchester Capital Management LLC increased its position in shares of Advanced Drainage Systems by 3,123.3% in the first quarter. Manchester Capital Management LLC now owns 9,670 shares of the construction company’s stock worth $212,000 after buying an additional 9,370 shares during the period. Gotham Asset Management LLC purchased a new position in shares of Advanced Drainage Systems during the first quarter worth approximately $238,000. Highbridge Capital Management LLC purchased a new position in shares of Advanced Drainage Systems during the fourth quarter worth approximately $278,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Advanced Drainage Systems during the fourth quarter worth approximately $279,000. 79.96% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on WMS. Royal Bank of Canada restated a “hold” rating on shares of Advanced Drainage Systems in a research report on Friday, May 26th. Boenning Scattergood restated a “hold” rating on shares of Advanced Drainage Systems in a research report on Thursday, May 25th. Finally, Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Advanced Drainage Systems currently has a consensus rating of “Hold” and an average target price of $27.00.
Advanced Drainage Systems Company Profile
Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.
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