Advanced Drainage Systems, Inc. (NYSE:WMS) Holdings Trimmed by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 9.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 494,071 shares of the construction company’s stock after selling 52,361 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.64% of Advanced Drainage Systems worth $84,752,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Advanced Drainage Systems by 319.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after purchasing an additional 115 shares during the period. Contravisory Investment Management Inc. acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at approximately $27,000. GAMMA Investing LLC purchased a new stake in shares of Advanced Drainage Systems in the 4th quarter valued at approximately $28,000. Rise Advisors LLC acquired a new position in Advanced Drainage Systems in the 1st quarter worth approximately $32,000. Finally, Avalon Trust Co acquired a new position in Advanced Drainage Systems in the 4th quarter worth approximately $38,000. Institutional investors own 89.83% of the company’s stock.

Insider Buying and Selling at Advanced Drainage Systems

In other news, EVP Robert M. Klein sold 3,059 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $175.95, for a total transaction of $538,231.05. Following the completion of the sale, the executive vice president now owns 102,070 shares in the company, valued at approximately $17,959,216.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Advanced Drainage Systems news, CFO Scott A. Cottrill sold 73,207 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $173.11, for a total transaction of $12,672,863.77. Following the transaction, the chief financial officer now owns 91,442 shares in the company, valued at $15,829,524.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert M. Klein sold 3,059 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $175.95, for a total transaction of $538,231.05. Following the completion of the sale, the executive vice president now owns 102,070 shares of the company’s stock, valued at $17,959,216.50. The disclosure for this sale can be found here. Insiders have sold a total of 176,004 shares of company stock worth $30,547,285 over the last three months. Corporate insiders own 2.05% of the company’s stock.

Advanced Drainage Systems Stock Down 1.4 %

Shares of NYSE WMS traded down $2.42 during trading hours on Friday, hitting $166.61. The stock had a trading volume of 705,828 shares, compared to its average volume of 559,860. The firm’s 50-day moving average price is $167.41 and its two-hundred day moving average price is $159.49. Advanced Drainage Systems, Inc. has a 52 week low of $102.32 and a 52 week high of $184.27. The company has a market capitalization of $12.91 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.37 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 posted its earnings results on Thursday, May 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $611.99 million. During the same period in the previous year, the company earned $1.06 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. Analysts anticipate that Advanced Drainage Systems, Inc. will post 7.19 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.38%. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 31st. Advanced Drainage Systems’s dividend payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

WMS has been the subject of a number of research analyst reports. StockNews.com lowered Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday. Northcoast Research began coverage on Advanced Drainage Systems in a research note on Wednesday, May 8th. They issued a “buy” rating and a $190.00 price objective for the company. Oppenheimer raised their price objective on Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Stephens upped their target price on Advanced Drainage Systems from $182.00 to $193.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Finally, Barclays raised their price target on shares of Advanced Drainage Systems from $189.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.88.

About Advanced Drainage Systems

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.