Mediolanum International Funds Ltd Makes New $24.31 Million Investment in Advanced Drainage Systems, Inc. $WMS

Mediolanum International Funds Ltd bought a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) during the third quarter, HoldingsChannel.com reports. The fund bought 176,190 shares of the construction company’s stock, valued at approximately $24,314,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WMS. Valeo Financial Advisors LLC increased its stake in Advanced Drainage Systems by 134.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 5,275 shares of the construction company’s stock worth $606,000 after buying an additional 3,028 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Advanced Drainage Systems during the third quarter valued at about $1,321,000. Asset Management One Co. Ltd. increased its position in shares of Advanced Drainage Systems by 29.7% during the third quarter. Asset Management One Co. Ltd. now owns 19,982 shares of the construction company’s stock worth $2,772,000 after acquiring an additional 4,574 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Advanced Drainage Systems by 47.5% during the second quarter. Fisher Asset Management LLC now owns 40,651 shares of the construction company’s stock worth $4,669,000 after acquiring an additional 13,097 shares during the last quarter. Finally, Truist Financial Corp acquired a new position in shares of Advanced Drainage Systems in the second quarter worth about $211,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WMS shares. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Wednesday, January 21st. Oppenheimer raised their price target on shares of Advanced Drainage Systems from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. UBS Group upped their price target on shares of Advanced Drainage Systems from $183.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $176.00 price objective on shares of Advanced Drainage Systems in a research note on Thursday, January 15th. Finally, Barclays boosted their target price on shares of Advanced Drainage Systems from $181.00 to $187.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.33.

Insider Buying and Selling

In related news, insider Tim A. Makowski sold 4,901 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $149.21, for a total transaction of $731,278.21. Following the completion of the transaction, the insider directly owned 2,467 shares in the company, valued at $368,101.07. This represents a 66.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas J. Sr. Waun sold 1,272 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $148.30, for a total value of $188,637.60. Following the completion of the sale, the executive vice president owned 797 shares in the company, valued at $118,195.10. The trade was a 61.48% 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 valued at $14,605,539 over the last three months. 1.63% of the stock is owned by company insiders.

Advanced Drainage Systems Stock Down 0.7%

WMS stock opened at $152.13 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.48 and a quick ratio of 2.60. Advanced Drainage Systems, Inc. has a 1-year low of $93.92 and a 1-year high of $160.85. The firm has a fifty day moving average price of $151.41 and a two-hundred day moving average price of $142.16. The firm has a market cap of $11.83 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.99 and a beta of 1.33.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $802.49 million. During the same period last year, the firm posted $1.70 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Announces Dividend

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

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.