Cercano Management LLC Decreases Stock Position in Advanced Drainage Systems, Inc. $WMS

Cercano Management LLC cut its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 49.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,224 shares of the construction company’s stock after selling 96,561 shares during the quarter. Cercano Management LLC’s holdings in Advanced Drainage Systems were worth $13,901,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bridges Investment Management Inc. lifted its position in shares of Advanced Drainage Systems by 32.9% during the third quarter. Bridges Investment Management Inc. now owns 28,122 shares of the construction company’s stock worth $3,901,000 after purchasing an additional 6,960 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in Advanced Drainage Systems during the 3rd quarter valued at about $24,314,000. Pacer Advisors Inc. purchased a new stake in Advanced Drainage Systems in the 3rd quarter valued at about $1,321,000. Essex Investment Management Co. LLC grew its stake in Advanced Drainage Systems by 345.7% in the 3rd quarter. Essex Investment Management Co. LLC now owns 42,898 shares of the construction company’s stock worth $5,950,000 after acquiring an additional 33,274 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Advanced Drainage Systems by 29.7% during the third quarter. Asset Management One Co. Ltd. now owns 19,982 shares of the construction company’s stock worth $2,772,000 after acquiring an additional 4,574 shares during the period. Institutional investors own 89.83% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert M. Eversole sold 10,569 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $152.82, for a total transaction of $1,615,154.58. Following the transaction, the director directly owned 50,076 shares of the company’s stock, valued at approximately $7,652,614.32. This represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.63% of the stock is owned by insiders.

Analyst Ratings Changes

WMS has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Wednesday, January 21st. UBS Group set a $215.00 target price on Advanced Drainage Systems and gave the company a “buy” rating in a research report on Friday, February 6th. Oppenheimer increased their price target on Advanced Drainage Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Royal Bank Of Canada lifted their price objective on Advanced Drainage Systems from $176.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Finally, Barclays increased their target price on shares of Advanced Drainage Systems from $187.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.00.

Advanced Drainage Systems Trading Down 0.1%

Shares of NYSE WMS opened at $170.82 on Wednesday. Advanced Drainage Systems, Inc. has a 1-year low of $93.92 and a 1-year high of $179.32. The business has a fifty day moving average price of $155.66 and a 200 day moving average price of $146.85. The stock has a market capitalization of $13.31 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 2.02 and a beta of 1.34. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.12 and a quick ratio of 3.08.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, February 5th. The construction company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.16. The business had revenue of $693.35 million during the quarter, compared to the consensus estimate of $686.37 million. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. The firm’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. Equities research analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 0.4%. Advanced Drainage Systems’s dividend payout ratio is presently 11.98%.

Advanced Drainage Systems Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.