AlphaCrest Capital Management LLC Acquires New Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

AlphaCrest Capital Management LLC bought a new position in Advanced Drainage Systems, Inc. (NYSE:WMSGet Rating) during the second quarter, Holdings Channel.com reports. The institutional investor bought 19,654 shares of the construction company’s stock, valued at approximately $1,770,000.

Other institutional investors have also bought and sold shares of the company. Signaturefd LLC increased its holdings in shares of Advanced Drainage Systems by 1,168.4% in the first quarter. Signaturefd LLC now owns 482 shares of the construction company’s stock valued at $57,000 after purchasing an additional 444 shares during the last quarter. Arizona State Retirement System raised its stake in Advanced Drainage Systems by 1.4% during the first quarter. Arizona State Retirement System now owns 14,443 shares of the construction company’s stock worth $1,716,000 after purchasing an additional 199 shares during the period. abrdn plc boosted its holdings in Advanced Drainage Systems by 2.1% in the 1st quarter. abrdn plc now owns 60,476 shares of the construction company’s stock valued at $7,323,000 after purchasing an additional 1,257 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Advanced Drainage Systems by 9.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 40,698 shares of the construction company’s stock valued at $4,835,000 after purchasing an additional 3,423 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Advanced Drainage Systems by 10.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 3,429 shares of the construction company’s stock valued at $407,000 after buying an additional 329 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WMS has been the topic of several analyst reports. StockNews.com started coverage on shares of Advanced Drainage Systems in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley decreased their price target on Advanced Drainage Systems from $152.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, November 7th. Barclays raised their price objective on Advanced Drainage Systems from $135.00 to $164.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Robert W. Baird reduced their price objective on shares of Advanced Drainage Systems from $168.00 to $121.00 in a report on Friday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Advanced Drainage Systems from $159.00 to $140.00 in a research note on Monday, November 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.80.

Insider Buying and Selling at Advanced Drainage Systems

In related news, Director Ross M. Jones sold 300,000 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $135.29, for a total transaction of $40,587,000.00. Following the completion of the transaction, the director now directly owns 3,827,280 shares of the company’s stock, valued at approximately $517,792,711.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ross M. Jones sold 300,000 shares of Advanced Drainage Systems stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $135.29, for a total value of $40,587,000.00. Following the completion of the transaction, the director now owns 3,827,280 shares in the company, valued at $517,792,711.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director De La Mesa Manuel J. Perez acquired 5,000 shares of the company’s stock in a transaction on Monday, November 7th. The stock was purchased at an average cost of $81.90 per share, for a total transaction of $409,500.00. Following the completion of the transaction, the director now owns 18,493 shares in the company, valued at approximately $1,514,576.70. The disclosure for this purchase can be found here. Insiders sold 415,494 shares of company stock valued at $54,506,605 in the last 90 days. Company insiders own 9.33% of the company’s stock.

Advanced Drainage Systems Price Performance

WMS stock opened at $96.63 on Thursday. The business’s fifty day moving average price is $114.17 and its 200 day moving average price is $113.50. Advanced Drainage Systems, Inc. has a 12-month low of $80.76 and a 12-month high of $153.36. The company has a market capitalization of $8.01 billion, a PE ratio of 17.83 and a beta of 1.35. The company has a current ratio of 3.07, a quick ratio of 1.98 and a debt-to-equity ratio of 1.22.

Advanced Drainage Systems (NYSE:WMSGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The construction company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.08). Advanced Drainage Systems had a return on equity of 51.62% and a net margin of 14.34%. The business had revenue of $884.20 million for the quarter, compared to analysts’ expectations of $928.04 million. During the same quarter last year, the company earned $0.88 earnings per share. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, sell-side analysts anticipate that Advanced Drainage Systems, Inc. will post 6.01 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.48 dividend on an annualized basis and a yield of 0.50%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 8.86%.

About Advanced Drainage Systems

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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, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.

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Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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