Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 309,921 shares of the construction company’s stock after selling 13,732 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Advanced Drainage Systems were worth $43,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. William Blair Investment Management LLC increased its position in Advanced Drainage Systems by 13.3% during the 3rd quarter. William Blair Investment Management LLC now owns 1,445,326 shares of the construction company’s stock valued at $164,521,000 after buying an additional 169,517 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Advanced Drainage Systems by 1.0% during the third quarter. Vanguard Group Inc. now owns 6,878,726 shares of the construction company’s stock valued at $783,005,000 after acquiring an additional 65,038 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Advanced Drainage Systems by 82.9% in the 4th quarter. Pacer Advisors Inc. now owns 13,990 shares of the construction company’s stock valued at $1,968,000 after purchasing an additional 6,343 shares during the last quarter. New York Life Investment Management LLC boosted its stake in Advanced Drainage Systems by 113.9% in the 3rd quarter. New York Life Investment Management LLC now owns 7,316 shares of the construction company’s stock worth $833,000 after purchasing an additional 3,896 shares in the last quarter. Finally, Raymond James & Associates grew its position in Advanced Drainage Systems by 18.1% during the 4th quarter. Raymond James & Associates now owns 42,273 shares of the construction company’s stock worth $5,945,000 after purchasing an additional 6,467 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Trading Down 0.0 %

NYSE WMS opened at $165.19 on Friday. Advanced Drainage Systems, Inc. has a 1 year low of $80.41 and a 1 year high of $176.31. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 2.04. The company has a market capitalization of $12.82 billion, a PE ratio of 26.26, a P/E/G ratio of 1.45 and a beta of 1.50. The company has a fifty day moving average of $162.84 and a 200 day moving average of $136.99.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.44. Advanced Drainage Systems had a return on equity of 49.79% and a net margin of 17.65%. The business had revenue of $662.37 million during the quarter, compared to analyst estimates of $632.69 million. During the same quarter last year, the business posted $0.99 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Research analysts forecast that Advanced Drainage Systems, Inc. will post 6.07 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Thursday, February 29th. Advanced Drainage Systems’s payout ratio is presently 8.90%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WMS shares. StockNews.com lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Monday. Stephens raised their target price on Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Finally, KeyCorp boosted their price target on Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $155.13.

Insiders Place Their Bets

In other news, Director Ross M. Jones sold 762,895 shares of Advanced Drainage Systems stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the completion of the transaction, the director now directly owns 70,749 shares of the company’s stock, valued at approximately $11,532,087. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Michael G. Huebert sold 10,000 shares of Advanced Drainage Systems stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total value of $1,635,200.00. Following the completion of the transaction, the executive vice president now owns 13,450 shares in the company, valued at approximately $2,199,344. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ross M. Jones sold 762,895 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total value of $124,351,885.00. Following the transaction, the director now owns 70,749 shares in the company, valued at approximately $11,532,087. The disclosure for this sale can be found here. Insiders own 3.79% of the company’s stock.

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 construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.