Baillie Gifford & Co. Cuts Stock Position in Advanced Drainage Systems, Inc. $WMS

Baillie Gifford & Co. decreased its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,395,071 shares of the construction company’s stock after selling 77,439 shares during the period. Baillie Gifford & Co.’s holdings in Advanced Drainage Systems were worth $332,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Impax Asset Management Group plc increased its holdings in Advanced Drainage Systems by 4.8% in the 2nd quarter. Impax Asset Management Group plc now owns 3,043,909 shares of the construction company’s stock worth $348,709,000 after acquiring an additional 139,495 shares in the last quarter. First Trust Advisors LP grew its position in shares of Advanced Drainage Systems by 5.7% in the second quarter. First Trust Advisors LP now owns 2,178,763 shares of the construction company’s stock valued at $250,253,000 after purchasing an additional 117,963 shares during the period. American Century Companies Inc. increased its stake in shares of Advanced Drainage Systems by 0.3% during the second quarter. American Century Companies Inc. now owns 1,382,070 shares of the construction company’s stock worth $158,745,000 after purchasing an additional 3,583 shares in the last quarter. KBC Group NV increased its stake in shares of Advanced Drainage Systems by 0.7% during the second quarter. KBC Group NV now owns 880,373 shares of the construction company’s stock worth $101,120,000 after purchasing an additional 6,154 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Advanced Drainage Systems during the 2nd quarter worth about $90,989,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Insider Activity

In other Advanced Drainage Systems news, EVP Thomas J. Sr. Waun sold 1,272 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $148.30, for a total value of $188,637.60. Following the transaction, the executive vice president directly owned 797 shares in the company, valued at $118,195.10. The trade was a 61.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert M. Eversole sold 10,569 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $152.82, for a total transaction of $1,615,154.58. Following the completion of the sale, the director directly owned 50,076 shares of the company’s stock, valued at approximately $7,652,614.32. This trade represents a 17.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 97,772 shares of company stock valued at $14,605,539 over the last three months. 1.63% of the stock is currently owned by company insiders.

Advanced Drainage Systems Stock Performance

Shares of Advanced Drainage Systems stock opened at $153.11 on Friday. The business’s 50 day moving average price is $150.45 and its 200 day moving average price is $140.81. The company has a market cap of $11.91 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 2.02 and a beta of 1.33. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.60 and a current ratio of 3.48. Advanced Drainage Systems, Inc. has a one year low of $93.92 and a one year high of $160.85.

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

Advanced Drainage Systems Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WMS shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $176.00 price objective on shares of Advanced Drainage Systems in a report on Thursday, January 15th. UBS Group lifted their price target on Advanced Drainage Systems from $183.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Oppenheimer increased their price objective on Advanced Drainage Systems from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. KeyCorp lifted their target price on shares of Advanced Drainage Systems from $159.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Barclays upped their target price on shares of Advanced Drainage Systems from $181.00 to $187.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.22.

Advanced Drainage Systems Profile

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.