Pacer Advisors Inc. Makes New $1.32 Million Investment in Advanced Drainage Systems, Inc. $WMS

Pacer Advisors Inc. purchased a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,522 shares of the construction company’s stock, valued at approximately $1,321,000.

Other large investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC raised its position in Advanced Drainage Systems by 134.8% in the second quarter. Valeo Financial Advisors LLC now owns 5,275 shares of the construction company’s stock valued at $606,000 after purchasing an additional 3,028 shares during the period. Fiduciary Alliance LLC acquired a new stake in shares of Advanced Drainage Systems in the second quarter valued at $203,000. Fisher Asset Management LLC grew its stake in shares of Advanced Drainage Systems by 47.5% in the second quarter. Fisher Asset Management LLC now owns 40,651 shares of the construction company’s stock valued at $4,669,000 after buying an additional 13,097 shares in the last quarter. Truist Financial Corp purchased a new stake in shares of Advanced Drainage Systems in the 2nd quarter valued at $211,000. Finally, Trexquant Investment LP acquired a new position in Advanced Drainage Systems during the 1st quarter worth about $1,591,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Advanced Drainage Systems Stock Down 1.4%

Shares of NYSE:WMS opened at $144.90 on Friday. The firm’s 50 day moving average price is $146.63 and its 200 day moving average price is $136.50. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 1.88 and a beta of 1.33. Advanced Drainage Systems, Inc. has a fifty-two week low of $93.92 and a fifty-two week high of $155.39. The company has a quick ratio of 2.60, a current ratio of 3.48 and a debt-to-equity ratio of 0.75.

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

Advanced Drainage Systems Announces Dividend

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

Insiders Place Their Bets

In other news, insider D. Scott Barbour sold 80,030 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $148.95, for a total transaction of $11,920,468.50. Following the sale, the insider owned 42,867 shares of the company’s stock, valued at approximately $6,385,039.65. This trade represents a 65.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tim A. Makowski sold 4,901 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $149.21, for a total value of $731,278.21. Following the sale, the insider owned 2,467 shares of the company’s stock, valued at approximately $368,101.07. The trade was a 66.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 97,772 shares of company stock valued at $14,605,539 over the last quarter. Corporate insiders own 1.63% of the company’s stock.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.