Engineers Gate Manager LP purchased a new stake in Advanced Drainage Systems Inc (NYSE:WMS) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 41,545 shares of the construction company’s stock, valued at approximately $1,284,000. Engineers Gate Manager LP owned approximately 0.07% of Advanced Drainage Systems as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC increased its holdings in shares of Advanced Drainage Systems by 18.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 13,028 shares of the construction company’s stock valued at $362,000 after purchasing an additional 2,028 shares in the last quarter. Global X Management Co LLC increased its holdings in shares of Advanced Drainage Systems by 19.1% in the 2nd quarter. Global X Management Co LLC now owns 14,260 shares of the construction company’s stock valued at $407,000 after purchasing an additional 2,284 shares in the last quarter. SG Americas Securities LLC purchased a new position in Advanced Drainage Systems during the 2nd quarter valued at about $101,000. Manchester Capital Management LLC increased its holdings in Advanced Drainage Systems by 84.3% during the 2nd quarter. Manchester Capital Management LLC now owns 12,570 shares of the construction company’s stock valued at $359,000 after acquiring an additional 5,750 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new position in Advanced Drainage Systems during the 3rd quarter valued at about $250,000. Institutional investors and hedge funds own 76.58% of the company’s stock.
In other news, major shareholder Berkshire Partners Holdings Ll purchased 1,500,000 shares of the firm’s stock in a transaction on Tuesday, August 28th. The shares were bought at an average cost of $30.08 per share, with a total value of $45,120,000.00. Following the purchase, the insider now directly owns 745,556 shares of the company’s stock, valued at $22,426,324.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ewout Leeuwenburg sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $31.42, for a total transaction of $942,600.00. Following the sale, the senior vice president now directly owns 73,062 shares in the company, valued at $2,295,608.04. The disclosure for this sale can be found here. 20.97% of the stock is owned by company insiders.
Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, August 13th. Boenning Scattergood restated a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, August 9th. Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 11th. Robert W. Baird restated a “buy” rating and set a $35.00 target price on shares of Advanced Drainage Systems in a report on Friday, August 10th. Finally, Citigroup raised their target price on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 23rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $32.25.
NYSE:WMS opened at $27.85 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.22 and a debt-to-equity ratio of 1.99. Advanced Drainage Systems Inc has a twelve month low of $21.00 and a twelve month high of $33.50. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 34.38 and a beta of 1.02.
Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, November 8th. The construction company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Advanced Drainage Systems had a net margin of 5.43% and a return on equity of 47.60%. The firm had revenue of $406.56 million during the quarter, compared to the consensus estimate of $417.03 million. During the same period last year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, research analysts forecast that Advanced Drainage Systems Inc will post 1.1 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 1.15%. Advanced Drainage Systems’s dividend payout ratio is currently 39.51%.
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Advanced Drainage Systems Company Profile
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.
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