Corient Private Wealth LLC Sells 65,803 Shares of Advanced Drainage Systems, Inc. $WMS

Corient Private Wealth LLC trimmed its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 16.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 327,037 shares of the construction company’s stock after selling 65,803 shares during the period. Corient Private Wealth LLC’s holdings in Advanced Drainage Systems were worth $37,563,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in Advanced Drainage Systems by 352.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after acquiring an additional 176 shares during the period. Parallel Advisors LLC grew its position in shares of Advanced Drainage Systems by 177.4% during the 2nd quarter. Parallel Advisors LLC now owns 430 shares of the construction company’s stock valued at $49,000 after purchasing an additional 275 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Advanced Drainage Systems by 341.6% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 658 shares of the construction company’s stock valued at $76,000 after purchasing an additional 509 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Advanced Drainage Systems in the second quarter worth $112,000. Finally, Twin Tree Management LP raised its position in shares of Advanced Drainage Systems by 644.1% in the first quarter. Twin Tree Management LP now owns 1,079 shares of the construction company’s stock worth $117,000 after buying an additional 934 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Insider Buying and Selling at Advanced Drainage Systems

In other Advanced Drainage Systems news, insider D. Scott Barbour sold 80,030 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $148.95, for a total value of $11,920,468.50. Following the completion of the sale, the insider directly owned 42,867 shares of the company’s stock, valued at $6,385,039.65. The trade was a 65.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert M. Eversole sold 10,569 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $152.82, for a total value of $1,615,154.58. Following the transaction, the director directly owned 50,076 shares in the company, valued at $7,652,614.32. This trade represents a 17.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 97,772 shares of company stock worth $14,605,539 over the last 90 days. Company insiders own 1.63% of the company’s stock.

Advanced Drainage Systems Price Performance

Shares of Advanced Drainage Systems stock opened at $147.41 on Wednesday. The company has a current ratio of 3.48, a quick ratio of 2.60 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $11.46 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.91 and a beta of 1.36. The business’s 50-day moving average price is $144.81 and its 200-day moving average price is $133.99. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $155.39.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.27. The company had revenue of $850.38 million during the quarter, compared to the consensus estimate of $802.49 million. Advanced Drainage Systems had a return on equity of 28.85% and a net margin of 15.35%.Advanced Drainage Systems’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 EPS. Sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, December 1st. Advanced Drainage Systems’s payout ratio is presently 12.29%.

Analyst Ratings Changes

Several research firms recently commented on WMS. Barclays boosted their target price on Advanced Drainage Systems from $176.00 to $181.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their price objective on shares of Advanced Drainage Systems from $158.00 to $168.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, KeyCorp raised their target price on shares of Advanced Drainage Systems from $159.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and an average price target of $157.11.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.