Advanced Drainage Systems, Inc. (NYSE:WMS) Position Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,654 shares of the construction company’s stock after selling 20,267 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.37% of Advanced Drainage Systems worth $49,890,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its holdings in shares of Advanced Drainage Systems by 14.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 43,567 shares of the construction company’s stock worth $4,959,000 after acquiring an additional 5,382 shares during the period. FMR LLC grew its position in Advanced Drainage Systems by 0.7% in the 3rd quarter. FMR LLC now owns 25,233 shares of the construction company’s stock worth $2,872,000 after purchasing an additional 186 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Advanced Drainage Systems by 13.8% in the third quarter. O Shaughnessy Asset Management LLC now owns 2,083 shares of the construction company’s stock valued at $237,000 after purchasing an additional 253 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in shares of Advanced Drainage Systems by 137.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 10,600 shares of the construction company’s stock valued at $1,207,000 after buying an additional 6,141 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Advanced Drainage Systems by 108.2% during the third quarter. Lazard Asset Management LLC now owns 3,951 shares of the construction company’s stock worth $449,000 after buying an additional 2,053 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Performance

Shares of WMS opened at $155.92 on Thursday. The firm’s 50 day moving average is $168.01 and its 200-day moving average is $157.64. Advanced Drainage Systems, Inc. has a 12-month low of $102.32 and a 12-month high of $184.27. 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 stock has a market capitalization of $12.09 billion, a P/E ratio of 24.21, a P/E/G ratio of 1.27 and a beta of 1.55.

Advanced Drainage Systems (NYSE:WMS) last issued 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 business 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%. Advanced Drainage Systems’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 earnings per share. Equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 7.17 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.16 dividend. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.41%. Advanced Drainage Systems’s dividend payout ratio is currently 9.94%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. KeyCorp lifted their target price 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 upped their price objective on shares of Advanced Drainage Systems from $192.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Stephens raised their target price on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Barclays boosted their price target on shares of Advanced Drainage Systems from $189.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Finally, StockNews.com upgraded shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $181.88.

Insider Transactions at Advanced Drainage Systems

In other Advanced Drainage Systems news, insider Tim A. Makowski sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $170.68, for a total value 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 SEC, which can be accessed through this link. In other news, CFO Scott A. Cottrill sold 73,207 shares of Advanced Drainage Systems stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $173.11, for a total transaction of $12,672,863.77. Following the completion of the sale, the chief financial officer now directly owns 91,442 shares in the company, valued at approximately $15,829,524.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tim A. Makowski sold 3,800 shares of the business’s stock in a transaction that occurred on 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 approximately $773,180.40. The disclosure for this sale can be found here. Insiders sold 176,004 shares of company stock valued at $30,547,285 over the last three months. 2.05% of the stock is 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.