Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by AIA Group Ltd

AIA Group Ltd cut its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 7.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 34,857 shares of the construction company’s stock after selling 2,911 shares during the period. AIA Group Ltd’s holdings in Advanced Drainage Systems were worth $6,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of Advanced Drainage Systems by 10.3% during the 1st quarter. Nordea Investment Management AB now owns 121,851 shares of the construction company’s stock worth $21,178,000 after purchasing an additional 11,423 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Advanced Drainage Systems by 428.8% during the 4th quarter. Cerity Partners LLC now owns 22,449 shares of the construction company’s stock worth $3,157,000 after purchasing an additional 18,204 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Advanced Drainage Systems by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 633,392 shares of the construction company’s stock worth $89,086,000 after purchasing an additional 15,690 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Advanced Drainage Systems by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,878,726 shares of the construction company’s stock worth $783,005,000 after purchasing an additional 65,038 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Advanced Drainage Systems by 82.9% during the 4th quarter. Pacer Advisors Inc. now owns 13,990 shares of the construction company’s stock worth $1,968,000 after purchasing an additional 6,343 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WMS has been the topic of several research analyst reports. Robert W. Baird boosted their target price on shares of Advanced Drainage Systems from $192.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Northcoast Research started coverage on shares of Advanced Drainage Systems in a research report on Wednesday, May 8th. They set a “buy” rating and a $190.00 target price on the stock. Oppenheimer lifted their price target on Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. KeyCorp lifted their price target on Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Finally, Barclays lifted their price target on Advanced Drainage Systems from $189.00 to $202.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.88.

Insider Activity

In other news, insider D. Scott Barbour sold 85,938 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $174.10, for a total transaction of $14,961,805.80. Following the completion of the transaction, the insider now owns 45,994 shares of the company’s stock, valued at approximately $8,007,555.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Michael G. Huebert sold 10,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $172.58, for a total transaction of $1,725,800.00. Following the completion of the sale, the executive vice president now owns 7,225 shares in the company, valued at approximately $1,246,890.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider D. Scott Barbour sold 85,938 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $174.10, for a total value of $14,961,805.80. Following the sale, the insider now owns 45,994 shares of the company’s stock, valued at approximately $8,007,555.40. The disclosure for this sale can be found here. Insiders sold a total of 176,004 shares of company stock valued at $30,547,285 in the last 90 days. 2.05% of the stock is currently owned by insiders.

Advanced Drainage Systems Price Performance

WMS stock traded up $0.93 during trading on Friday, hitting $163.52. The stock had a trading volume of 277,687 shares, compared to its average volume of 483,520. The company’s 50 day moving average price is $167.42 and its two-hundred day moving average price is $158.38. Advanced Drainage Systems, Inc. has a 1-year low of $102.32 and a 1-year high of $184.27. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 1.29 and a beta of 1.55. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.90 and a current ratio of 2.96.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, May 16th. The construction company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.28. Advanced Drainage Systems had a net margin of 17.74% and a return on equity of 46.93%. The firm had revenue of $653.80 million during the quarter, compared to the consensus estimate of $611.99 million. During the same quarter in the previous year, the company posted $1.06 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 7.17 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.16 per share. The ex-dividend date was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.39%. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.14. Advanced Drainage Systems’s dividend payout ratio is currently 9.94%.

Advanced Drainage Systems Company 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.