Ballentine Partners LLC Makes New $254,000 Investment in Advanced Drainage Systems, Inc. (NYSE:WMS)

Ballentine Partners LLC acquired a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,475 shares of the construction company’s stock, valued at approximately $254,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC bought a new position in Advanced Drainage Systems during the 1st quarter worth $224,000. Banque Cantonale Vaudoise bought a new position in shares of Advanced Drainage Systems in the 1st quarter valued at $452,000. Perpetual Ltd increased its stake in shares of Advanced Drainage Systems by 9.6% in the 1st quarter. Perpetual Ltd now owns 55,575 shares of the construction company’s stock valued at $9,572,000 after purchasing an additional 4,889 shares during the last quarter. Rise Advisors LLC bought a new position in shares of Advanced Drainage Systems in the 1st quarter valued at $32,000. Finally, GAMMA Investing LLC increased its stake in shares of Advanced Drainage Systems by 29.4% in the 1st quarter. GAMMA Investing LLC now owns 273 shares of the construction company’s stock valued at $47,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Insider Activity

In other news, CFO Scott A. Cottrill sold 73,207 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $173.11, for a total value of $12,672,863.77. Following the transaction, the chief financial officer now directly owns 91,442 shares of the company’s stock, valued at approximately $15,829,524.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Scott A. Cottrill sold 73,207 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $173.11, for a total value of $12,672,863.77. Following the completion of the sale, the chief financial officer now directly owns 91,442 shares of the company’s stock, valued at approximately $15,829,524.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tim A. Makowski sold 3,800 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $170.68, for a total value of $648,584.00. Following the completion of 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 valued at $30,547,285 in the last ninety days. 2.05% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WMS shares. KeyCorp lifted their price target on Advanced Drainage Systems from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Robert W. Baird lifted their price target on Advanced Drainage Systems from $192.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Northcoast Research initiated coverage on Advanced Drainage Systems in a research note on Wednesday, May 8th. They issued a “buy” rating and a $190.00 price target on the stock. Oppenheimer raised their price objective on Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Finally, Stephens raised their price objective on Advanced Drainage Systems from $182.00 to $193.00 and gave the company an “overweight” rating in a report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.88.

Advanced Drainage Systems Stock Down 0.8 %

Shares of WMS opened at $160.25 on Thursday. The company has a market capitalization of $12.42 billion, a PE ratio of 24.88, a PEG ratio of 1.33 and a beta of 1.58. Advanced Drainage Systems, Inc. has a 12 month low of $102.32 and a 12 month high of $184.27. The stock’s 50-day moving average price is $168.02 and its two-hundred day moving average price is $156.74. 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 (NYSE:WMS) last announced its earnings results on Thursday, May 16th. The construction company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.95 by $0.28. The firm had revenue of $653.80 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. On average, analysts anticipate that Advanced Drainage Systems, Inc. will post 7.17 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.40%. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, May 31st. Advanced Drainage Systems’s payout ratio is currently 9.94%.

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.