Alps Advisors Inc. Acquires New Shares in Advanced Drainage Systems, Inc. (NYSE:WMS)

Alps Advisors Inc. bought a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,588 shares of the construction company’s stock, valued at approximately $286,000.

A number of other institutional investors have also recently bought and sold shares of WMS. Advisor Group Holdings Inc. bought a new position in Advanced Drainage Systems in the first quarter valued at about $68,000. Royal Bank of Canada raised its position in Advanced Drainage Systems by 10.1% in the first quarter. Royal Bank of Canada now owns 4,636 shares of the construction company’s stock valued at $136,000 after purchasing an additional 425 shares during the last quarter. State Street Corp raised its position in Advanced Drainage Systems by 5.3% in the first quarter. State Street Corp now owns 921,285 shares of the construction company’s stock valued at $27,123,000 after purchasing an additional 46,407 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Advanced Drainage Systems in the second quarter valued at about $329,000. Finally, Zeke Capital Advisors LLC bought a new position in Advanced Drainage Systems in the second quarter valued at about $216,000. Hedge funds and other institutional investors own 84.14% of the company’s stock.

Several equities analysts have commented on the company. Zacks Investment Research downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley raised their price objective on Advanced Drainage Systems from $49.00 to $53.00 and gave the stock an “underweight” rating in a research report on Friday, November 6th. Loop Capital raised their price objective on Advanced Drainage Systems from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. They noted that the move was a valuation call. Finally, Barclays raised their price objective on Advanced Drainage Systems from $64.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $60.50.

Shares of WMS stock opened at $63.86 on Friday. The company has a market cap of $4.50 billion, a P/E ratio of 52.34, a PEG ratio of 0.57 and a beta of 1.43. The stock has a 50 day simple moving average of $65.74 and a two-hundred day simple moving average of $53.46. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.89 and a current ratio of 2.82. Advanced Drainage Systems, Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $72.51.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Tuesday, November 10th. The construction company reported $0.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.11). The business had revenue of $544.20 million during the quarter, compared to the consensus estimate of $535.82 million. Advanced Drainage Systems had a return on equity of 19.10% and a net margin of 5.71%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share. On average, research analysts predict that Advanced Drainage Systems, Inc. will post 2.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.36 dividend on an annualized basis and a yield of 0.56%. Advanced Drainage Systems’s payout ratio is currently -11.21%.

In other Advanced Drainage Systems news, insider Tim A. Makowski sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $59.37, for a total value of $415,590.00. Following the completion of the sale, the insider now owns 12,074 shares of the company’s stock, valued at $716,833.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Berkshire Partners Holdings Ll sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $65.09, for a total value of $7,810,800.00. Following the completion of the sale, the insider now directly owns 14,058 shares of the company’s stock, valued at approximately $915,035.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,686 shares of company stock valued at $10,641,407. 20.74% of the stock is currently owned by corporate insiders.

Advanced Drainage Systems Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the underground construction and infrastructure marketplace in the United States, Canada, and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

Further Reading: Trading Ex-Dividend

Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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