Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC trimmed its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 227,224 shares of the construction company’s stock after selling 3,503 shares during the period. Clearbridge Investments LLC owned about 0.29% of Advanced Drainage Systems worth $31,957,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new stake in Advanced Drainage Systems during the fourth quarter worth about $27,000. GAMMA Investing LLC purchased a new position in Advanced Drainage Systems during the fourth quarter worth approximately $28,000. NBC Securities Inc. purchased a new position in Advanced Drainage Systems during the third quarter worth approximately $25,000. Avalon Trust Co purchased a new position in Advanced Drainage Systems during the fourth quarter worth approximately $38,000. Finally, ORG Partners LLC purchased a new position in Advanced Drainage Systems during the fourth quarter worth approximately $60,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Northcoast Research assumed coverage on Advanced Drainage Systems in a research report on Wednesday, May 8th. They set a “buy” rating and a $190.00 price target on the stock. StockNews.com upgraded Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Stephens raised their target price on Advanced Drainage Systems from $182.00 to $193.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Robert W. Baird raised their target price on Advanced Drainage Systems from $192.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Finally, Barclays raised their target price on Advanced Drainage Systems from $189.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.88.

Advanced Drainage Systems Stock Performance

NYSE WMS opened at $174.94 on Friday. The stock has a market cap of $13.55 billion, a PE ratio of 27.16, a P/E/G ratio of 1.54 and a beta of 1.51. The company has a current ratio of 2.96, a quick ratio of 1.90 and a debt-to-equity ratio of 1.13. Advanced Drainage Systems, Inc. has a twelve month low of $93.16 and a twelve month high of $184.27. The stock has a fifty day simple moving average of $167.30 and a 200-day simple moving average of $148.17.

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, topping the consensus estimate of $0.95 by $0.28. Advanced Drainage Systems had a return on equity of 46.93% and a net margin of 17.74%. The firm had revenue of $653.80 million for the quarter, compared to analyst estimates of $611.99 million. During the same quarter in the prior year, the company earned $1.06 EPS. Advanced Drainage Systems’s revenue was up 5.9% on a year-over-year basis. Equities analysts anticipate that Advanced Drainage Systems, Inc. will post 6.75 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.16 per share. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, May 31st. This represents a $0.64 annualized dividend and a yield of 0.37%. Advanced Drainage Systems’s dividend payout ratio is presently 8.70%.

Insider Buying and Selling

In related news, EVP Michael G. Huebert sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the transaction, the executive vice president now owns 13,450 shares of the company’s stock, valued at approximately $2,199,344. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Advanced Drainage Systems news, EVP Michael G. Huebert sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total value of $1,635,200.00. Following the sale, the executive vice president now owns 13,450 shares of the company’s stock, valued at approximately $2,199,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ross M. Jones sold 762,895 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total value of $124,351,885.00. Following the sale, the director now directly owns 70,749 shares in the company, valued at approximately $11,532,087. The disclosure for this sale can be found here. 3.79% of the stock is owned by corporate insiders.

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.