Truist Financial Corp Buys 3,039 Shares of Advanced Drainage Systems, Inc. $WMS

Truist Financial Corp raised its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 165.1% during the third quarter, Holdings Channel reports. The institutional investor owned 4,880 shares of the construction company’s stock after buying an additional 3,039 shares during the quarter. Truist Financial Corp’s holdings in Advanced Drainage Systems were worth $677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WMS. Northwestern Mutual Wealth Management Co. boosted its holdings in Advanced Drainage Systems by 352.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after acquiring an additional 176 shares during the last quarter. Mather Group LLC. acquired a new position in Advanced Drainage Systems during the 3rd quarter valued at about $28,000. Cullen Frost Bankers Inc. boosted its stake in shares of Advanced Drainage Systems by 1,242.1% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 255 shares of the construction company’s stock valued at $35,000 after purchasing an additional 236 shares during 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 worth $76,000 after buying an additional 509 shares during the period. Finally, CWM LLC raised its stake in shares of Advanced Drainage Systems by 16.2% during the third quarter. CWM LLC now owns 702 shares of the construction company’s stock worth $97,000 after buying an additional 98 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Insider Activity at Advanced Drainage Systems

In related news, Director Robert M. Eversole sold 10,569 shares of the stock in a transaction on Wednesday, December 3rd. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.63% of the stock is currently owned by corporate insiders.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $174.96 on Wednesday. The company has a current ratio of 4.12, a quick ratio of 3.08 and a debt-to-equity ratio of 0.72. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $178.41. The business’s 50-day moving average price is $153.47 and its 200-day moving average price is $144.94. The firm has a market capitalization of $13.63 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 2.04 and a beta of 1.34.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, February 5th. The construction company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.16. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The firm had revenue of $693.35 million for the quarter, compared to analyst estimates of $686.37 million. During the same quarter in the previous year, the company posted $1.09 EPS. The business’s revenue was up .4% on a year-over-year basis. Equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.18 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.72 annualized dividend and a yield of 0.4%. Advanced Drainage Systems’s dividend payout ratio is presently 11.98%.

Wall Street Analyst Weigh In

Several analysts have commented on WMS shares. Oppenheimer upped their target price on shares of Advanced Drainage Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday. Barclays boosted their price target on Advanced Drainage Systems from $187.00 to $198.00 and gave the company an “overweight” rating in a report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Wednesday, January 21st. UBS Group set a $215.00 target price on shares of Advanced Drainage Systems and gave the company a “buy” rating in a research note on Friday. Finally, Royal Bank Of Canada increased their price target on Advanced Drainage Systems from $176.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $186.00.

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.