Shares of Advanced Drainage Systems, Inc. (NYSE:WMS) shot up 8.4% during mid-day trading on Tuesday following insider buying activity. The stock traded as high as $22.65 and last traded at $22.50, with a volume of 931,388 shares trading hands. The stock had previously closed at $20.75.
Specifically, CEO Joseph A. Chlapaty acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was acquired at an average price of $19.39 per share, with a total value of $581,700.00. Following the completion of the purchase, the chief executive officer now directly owns 227,786 shares in the company, valued at $4,416,770.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Berkshire Partners Holdings Ll acquired 3,446,293 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was purchased at an average cost of $20.32 per share, with a total value of $70,028,673.76. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 3,486,293 shares of company stock valued at $70,813,174. 21.43% of the stock is owned by insiders.
WMS has been the subject of several analyst reports. Zacks Investment Research raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Royal Bank Of Canada reissued a “hold” rating and issued a $25.00 price objective on shares of Advanced Drainage Systems in a research note on Monday, April 24th. Boenning Scattergood reissued a “hold” rating on shares of Advanced Drainage Systems in a research note on Thursday, May 25th. Finally, BidaskClub raised shares of Advanced Drainage Systems from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $25.33.
The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 45.00 and a beta of 0.92. The stock has a 50 day moving average of $20.23 and a 200 day moving average of $21.78.
Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.06. Advanced Drainage Systems had a net margin of 2.50% and a return on equity of 62.10%. The firm had revenue of $358.36 million during the quarter, compared to analysts’ expectations of $372.63 million. During the same period last year, the company earned $0.29 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts forecast that Advanced Drainage Systems, Inc. will post $1.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.24%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 60.87%.
Several hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in Advanced Drainage Systems by 54.0% in the second quarter. Principal Financial Group Inc. now owns 46,912 shares of the construction company’s stock valued at $943,000 after buying an additional 16,458 shares during the period. GCA Investment Management LLC purchased a new stake in Advanced Drainage Systems during the second quarter valued at $16,841,000. BNP Paribas Arbitrage SA boosted its stake in Advanced Drainage Systems by 133.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,259 shares of the construction company’s stock valued at $106,000 after buying an additional 3,006 shares during the period. Rhumbline Advisers boosted its stake in Advanced Drainage Systems by 0.5% in the second quarter. Rhumbline Advisers now owns 38,851 shares of the construction company’s stock valued at $781,000 after buying an additional 178 shares during the period. Finally, First Trust Advisors LP boosted its stake in Advanced Drainage Systems by 28.4% in the second quarter. First Trust Advisors LP now owns 265,679 shares of the construction company’s stock valued at $5,340,000 after buying an additional 58,820 shares during the period. 79.84% of the stock is owned by institutional investors and hedge funds.
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Advanced Drainage Systems Company Profile
Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.
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