Barclays PLC Cuts Position in Advanced Drainage Systems Inc (NYSE:WMS)

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Barclays PLC decreased its holdings in shares of Advanced Drainage Systems Inc (NYSE:WMS) by 33.3% in the third quarter, Holdings Channel.com reports. The firm owned 73,277 shares of the construction company’s stock after selling 36,536 shares during the period. Barclays PLC’s holdings in Advanced Drainage Systems were worth $2,365,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in WMS. Point72 Asset Management L.P. grew its stake in shares of Advanced Drainage Systems by 311.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 10,700 shares of the construction company’s stock worth $345,000 after buying an additional 8,100 shares during the last quarter. California State Teachers Retirement System boosted its stake in Advanced Drainage Systems by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 56,724 shares of the construction company’s stock worth $1,830,000 after purchasing an additional 677 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in Advanced Drainage Systems by 25.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,543,761 shares of the construction company’s stock worth $49,817,000 after purchasing an additional 312,472 shares in the last quarter. State Street Corp grew its position in Advanced Drainage Systems by 1.2% during the 3rd quarter. State Street Corp now owns 779,768 shares of the construction company’s stock valued at $25,163,000 after purchasing an additional 9,030 shares during the last quarter. Finally, Beck Mack & Oliver LLC grew its position in Advanced Drainage Systems by 29.2% during the 3rd quarter. Beck Mack & Oliver LLC now owns 963,942 shares of the construction company’s stock valued at $31,106,000 after purchasing an additional 218,000 shares during the last quarter. Hedge funds and other institutional investors own 81.21% of the company’s stock.

Shares of WMS stock opened at $38.62 on Wednesday. The company has a 50 day moving average price of $37.06 and a 200-day moving average price of $33.20. Advanced Drainage Systems Inc has a 52 week low of $23.04 and a 52 week high of $39.69. The firm has a market capitalization of $2.61 billion, a PE ratio of 31.66 and a beta of 0.92. The company has a quick ratio of 1.31, a current ratio of 2.34 and a debt-to-equity ratio of 2.27.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, November 7th. The construction company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.41). The company had revenue of $495.90 million during the quarter, compared to analysts’ expectations of $473.84 million. Advanced Drainage Systems had a positive return on equity of 18.28% and a negative net margin of 13.50%. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 EPS. Analysts anticipate that Advanced Drainage Systems Inc will post -2.96 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.93%. Advanced Drainage Systems’s payout ratio is 29.51%.

Several brokerages have issued reports on WMS. ValuEngine cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Zacks Investment Research reiterated a “hold” rating and set a $38.00 price target on shares of Advanced Drainage Systems in a report on Saturday, October 12th. Bank of America assumed coverage on shares of Advanced Drainage Systems in a report on Tuesday. They issued a “buy” rating and a $46.00 price objective for the company. Barclays upped their price objective on Advanced Drainage Systems from $29.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 6th. Finally, Robert W. Baird set a $68.00 target price on Advanced Drainage Systems and gave the company a “hold” rating in a research note on Friday, October 18th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Advanced Drainage Systems has a consensus rating of “Hold” and an average target price of $42.80.

In other Advanced Drainage Systems news, SVP Ewout Leeuwenburg sold 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $36.55, for a total value of $365,500.00. Following the transaction, the senior vice president now owns 54,210 shares of the company’s stock, valued at $1,981,375.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Roy E. Jr. Moore bought 67,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was purchased at an average cost of $29.75 per share, for a total transaction of $1,993,250.00. Following the acquisition, the executive vice president now owns 78,288 shares of the company’s stock, valued at approximately $2,329,068. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,462,193 shares of company stock worth $73,912,528 and sold 1,057,000 shares worth $39,528,500. Company insiders own 20.84% 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 in the United States 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.

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

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