Duality Advisers LP Boosts Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Duality Advisers LP increased its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 15.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,995 shares of the construction company’s stock after acquiring an additional 935 shares during the quarter. Duality Advisers LP’s holdings in Advanced Drainage Systems were worth $1,205,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Advanced Drainage Systems during the fourth quarter worth about $88,640,000. Wellington Management Group LLP raised its stake in shares of Advanced Drainage Systems by 107.4% in the 4th quarter. Wellington Management Group LLP now owns 567,504 shares of the construction company’s stock valued at $79,814,000 after acquiring an additional 293,924 shares during the period. KBC Group NV lifted its stake in Advanced Drainage Systems by 78.5% during the fourth quarter. KBC Group NV now owns 659,483 shares of the construction company’s stock worth $92,750,000 after purchasing an additional 289,925 shares in the last quarter. abrdn plc boosted its position in shares of Advanced Drainage Systems by 164.6% during the fourth quarter. abrdn plc now owns 377,587 shares of the construction company’s stock worth $53,104,000 after buying an additional 234,883 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at $32,122,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Up 0.9 %

Shares of WMS traded up $1.48 during mid-day trading on Friday, reaching $164.07. The company’s stock had a trading volume of 161,863 shares, compared to its average volume of 482,649. Advanced Drainage Systems, Inc. has a 12-month low of $102.32 and a 12-month high of $184.27. The stock has a market cap of $12.72 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.29 and a beta of 1.55. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.96 and a quick ratio of 1.90. The company’s 50 day moving average is $167.45 and its 200 day moving average is $158.22.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, May 16th. The construction company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $653.80 million for the quarter, compared to the consensus estimate of $611.99 million. During the same quarter in the prior year, the business posted $1.06 EPS. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. Equities analysts anticipate that Advanced Drainage Systems, Inc. will post 7.17 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.14. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 9.94%.

Analyst Ratings Changes

Several research firms recently issued reports on WMS. Oppenheimer increased their target price on Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Stephens increased their target price on Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. StockNews.com raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Robert W. Baird increased their price target 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 increased their price target 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 equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $181.88.

Insider Buying and Selling

In related news, insider Tim A. Makowski sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $170.68, for a total transaction of $648,584.00. Following the transaction, the insider now owns 4,530 shares in the company, valued at approximately $773,180.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Advanced Drainage Systems news, EVP Michael G. Huebert sold 10,000 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $172.58, for a total transaction of $1,725,800.00. Following the completion of the sale, the executive vice president now directly owns 7,225 shares of the company’s stock, valued at approximately $1,246,890.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tim A. Makowski sold 3,800 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $170.68, for a total value of $648,584.00. Following the sale, the insider now directly owns 4,530 shares of the company’s stock, valued at $773,180.40. The disclosure for this sale can be found here. Insiders have sold 176,004 shares of company stock worth $30,547,285 in the last quarter. 2.05% of the stock is owned by insiders.

Advanced Drainage Systems Profile

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.