Jennison Associates LLC Makes New Investment in Advanced Drainage Systems, Inc. (NYSE:WMS)


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Jennison Associates LLC bought a new position in Advanced Drainage Systems, Inc. (NYSE:WMS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,318 shares of the construction company’s stock, valued at approximately $1,280,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE raised its holdings in shares of Advanced Drainage Systems by 364.6% during the third quarter. US Bancorp DE now owns 762 shares of the construction company’s stock worth $47,000 after acquiring an additional 598 shares during the period. Great West Life Assurance Co. Can raised its holdings in shares of Advanced Drainage Systems by 12.9% during the third quarter. Great West Life Assurance Co. Can now owns 4,128 shares of the construction company’s stock worth $51,000 after acquiring an additional 472 shares during the period. IFP Advisors Inc raised its holdings in shares of Advanced Drainage Systems by 1,226.5% during the fourth quarter. IFP Advisors Inc now owns 650 shares of the construction company’s stock worth $52,000 after acquiring an additional 601 shares during the period. Nisa Investment Advisors LLC acquired a new stake in shares of Advanced Drainage Systems during the third quarter worth $75,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter worth $209,000. Institutional investors own 84.14% of the company’s stock.

In other news, insider Tim A. Makowski sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $70.85, for a total value of $283,400.00. Following the completion of the transaction, the insider now directly owns 8,001 shares in the company, valued at approximately $566,870.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ross M. Jones sold 1,670,000 shares of the business’s stock in a transaction that occurred on Thursday, December 10th. The shares were sold at an average price of $75.00, for a total transaction of $125,250,000.00. Following the completion of the transaction, the director now owns 10,507 shares of the company’s stock, valued at $788,025. The disclosure for this sale can be found here. Insiders sold a total of 1,776,127 shares of company stock valued at $134,714,295 in the last quarter. Corporate insiders own 20.74% of the company’s stock.

Advanced Drainage Systems stock opened at $104.02 on Tuesday. The company has a market cap of $7.37 billion, a P/E ratio of 85.26, a price-to-earnings-growth ratio of 0.57 and a beta of 1.43. Advanced Drainage Systems, Inc. has a 1-year low of $22.13 and a 1-year high of $109.46. The company has a fifty day simple moving average of $92.84 and a 200 day simple moving average of $72.79. The company has a current ratio of 2.82, a quick ratio of 1.89 and a debt-to-equity ratio of 1.81.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Wednesday, February 3rd. The construction company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.15. Advanced Drainage Systems had a net margin of 5.71% and a return on equity of 19.10%. The business had revenue of $486.15 million during the quarter, compared to the consensus estimate of $408.87 million. During the same quarter last year, the firm earned $0.28 earnings per share. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. On average, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 2.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 15th. Shareholders of record on Monday, March 1st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.35%. The ex-dividend date is Friday, February 26th. Advanced Drainage Systems’s dividend payout ratio (DPR) is -11.21%.

A number of brokerages recently commented on WMS. Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a report on Tuesday, February 16th. Morgan Stanley upgraded shares of Advanced Drainage Systems from an “underweight” rating to an “equal weight” rating and set a $102.00 price objective on the stock in a report on Thursday, February 11th. Barclays raised their target price on shares of Advanced Drainage Systems from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, February 5th. Finally, Loop Capital raised their target price on shares of Advanced Drainage Systems from $88.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, February 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Advanced Drainage Systems has an average rating of “Buy” and a consensus target price of $99.40.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the underground construction and infrastructure marketplace in the United States, Canada, 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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Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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