Rhumbline Advisers Lowers Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Rhumbline Advisers reduced its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 13.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,962 shares of the construction company’s stock after selling 8,199 shares during the period. Rhumbline Advisers owned about 0.07% of Advanced Drainage Systems worth $6,174,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WMS. American International Group Inc. lifted its holdings in Advanced Drainage Systems by 0.3% in the 1st quarter. American International Group Inc. now owns 32,834 shares of the construction company’s stock valued at $3,395,000 after acquiring an additional 87 shares during the last quarter. Pitcairn Co. lifted its position in shares of Advanced Drainage Systems by 1.1% in the first quarter. Pitcairn Co. now owns 8,006 shares of the construction company’s stock worth $827,000 after purchasing an additional 89 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Advanced Drainage Systems by 30.7% in the second quarter. IFP Advisors Inc now owns 783 shares of the construction company’s stock worth $89,000 after purchasing an additional 184 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Advanced Drainage Systems by 1.5% in the first quarter. Arizona State Retirement System now owns 15,387 shares of the construction company’s stock worth $1,591,000 after purchasing an additional 220 shares in the last quarter. Finally, Column Capital Advisors LLC acquired a new position in Advanced Drainage Systems in the second quarter worth approximately $27,000. 82.63% of the stock is currently owned by institutional investors and hedge funds.

WMS stock opened at $112.83 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $7.96 billion, a PE ratio of 42.58 and a beta of 1.37. Advanced Drainage Systems, Inc. has a 1-year low of $54.61 and a 1-year high of $124.98. The business’s 50 day simple moving average is $116.79 and its 200 day simple moving average is $111.94.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 5th. The construction company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.37). Advanced Drainage Systems had a net margin of 10.66% and a return on equity of 29.63%. The firm had revenue of $669.30 million during the quarter. As a group, sell-side analysts predict that Advanced Drainage Systems, Inc. will post 3.78 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Tuesday, August 31st. Advanced Drainage Systems’s dividend payout ratio is 16.99%.

In other news, insider Tim A. Makowski sold 2,000 shares of the company’s stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $116.24, for a total transaction of $232,480.00. Following the completion of the sale, the insider now directly owns 7,353 shares in the company, valued at approximately $854,712.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert M. Eversole sold 10,000 shares of the company’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $118.11, for a total value of $1,181,100.00. Following the sale, the director now owns 53,648 shares of the company’s stock, valued at $6,336,365.28. The disclosure for this sale can be found here. Corporate insiders own 14.85% of the company’s stock.

Several brokerages have commented on WMS. Zacks Investment Research downgraded Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Thursday, August 12th. Barclays lifted their price objective on Advanced Drainage Systems from $128.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, May 21st. Morgan Stanley boosted their target price on Advanced Drainage Systems from $112.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, May 21st. Finally, Loop Capital lifted their price objective on Advanced Drainage Systems from $120.00 to $127.00 and gave the company a “buy” rating in a report on Friday, May 21st.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc engages in the manufacture of thermoplastic corrugated pipe, which provides suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. It operates through the following segments: Pipe, Infiltrator, International, and Allied Products & Other.

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

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