American International Group Inc. Has $13.11 Million Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

American International Group Inc. lowered its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,197 shares of the construction company’s stock after selling 4,968 shares during the quarter. American International Group Inc. owned 0.12% of Advanced Drainage Systems worth $13,107,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new position in Advanced Drainage Systems during the fourth quarter worth $27,000. GAMMA Investing LLC acquired a new position in shares of Advanced Drainage Systems during the 4th quarter worth about $28,000. Avalon Trust Co bought a new position in shares of Advanced Drainage Systems in the 4th quarter valued at about $38,000. ORG Partners LLC bought a new position in shares of Advanced Drainage Systems in the 4th quarter valued at about $60,000. Finally, Global Retirement Partners LLC increased its position in shares of Advanced Drainage Systems by 58.6% in the fourth quarter. Global Retirement Partners LLC now owns 788 shares of the construction company’s stock valued at $103,000 after acquiring an additional 291 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on WMS. Stephens increased their price target 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. Northcoast Research initiated coverage on shares of Advanced Drainage Systems in a report on Wednesday, May 8th. They set a “buy” rating and a $190.00 target price on the stock. StockNews.com upgraded shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Oppenheimer lifted their price objective on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Finally, KeyCorp upped their target price on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, May 17th. One 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $181.88.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $170.85 on Monday. Advanced Drainage Systems, Inc. has a 52 week low of $102.32 and a 52 week high of $184.27. The company has a market capitalization of $13.24 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.40 and a beta of 1.58. The company has a 50-day simple moving average of $167.27 and a 200 day simple moving average of $154.23. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.90 and a current ratio of 2.96.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, May 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.28. The company had revenue of $653.80 million during the quarter, compared to analysts’ expectations of $611.99 million. Advanced Drainage Systems had a return on equity of 46.93% and a net margin of 17.74%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.06 earnings per share. On average, sell-side analysts predict that Advanced Drainage Systems, Inc. will post 7.17 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.16 per share. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, May 31st. This represents a $0.64 annualized dividend and a yield of 0.37%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 9.94%.

Insider Transactions at Advanced Drainage Systems

In related news, EVP Michael G. Huebert sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $172.58, for a total transaction of $1,725,800.00. Following the transaction, the executive vice president now directly owns 7,225 shares of the company’s stock, valued at $1,246,890.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider D. Scott Barbour sold 85,938 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $174.10, for a total transaction of $14,961,805.80. Following the sale, the insider now directly owns 45,994 shares of the company’s stock, valued at approximately $8,007,555.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael G. Huebert sold 10,000 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $172.58, for a total value of $1,725,800.00. Following the completion of the transaction, the executive vice president now owns 7,225 shares in the company, valued at approximately $1,246,890.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,004 shares of company stock valued at $30,547,285. 2.05% of the stock is currently owned by corporate insiders.

Advanced Drainage Systems Company 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.