Wells Fargo & Company MN grew its holdings in shares of Advanced Drainage Systems Inc (NYSE:WMS) by 20.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,430 shares of the construction company’s stock after buying an additional 9,309 shares during the period. Wells Fargo & Company MN owned 0.10% of Advanced Drainage Systems worth $1,299,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of WMS. Teacher Retirement System of Texas purchased a new position in shares of Advanced Drainage Systems during the fourth quarter valued at approximately $318,000. Cubist Systematic Strategies LLC purchased a new stake in Advanced Drainage Systems in the third quarter worth $372,000. Nationwide Fund Advisors grew its stake in Advanced Drainage Systems by 84.1% in the third quarter. Nationwide Fund Advisors now owns 35,689 shares of the construction company’s stock worth $723,000 after purchasing an additional 16,300 shares during the period. Daiwa SB Investments Ltd. grew its stake in Advanced Drainage Systems by 57.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 52,776 shares of the construction company’s stock worth $1,259,000 after purchasing an additional 19,158 shares during the period. Finally, Comerica Bank grew its stake in Advanced Drainage Systems by 35.4% in the fourth quarter. Comerica Bank now owns 121,393 shares of the construction company’s stock worth $2,992,000 after purchasing an additional 31,759 shares during the period. 79.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WMS stock opened at $25.65 on Friday. The firm has a market capitalization of $1,440.30, a P/E ratio of 51.30 and a beta of 0.88. Advanced Drainage Systems Inc has a twelve month low of $17.90 and a twelve month high of $28.15. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.01 and a current ratio of 2.10.
Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, February 8th. The construction company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.27. Advanced Drainage Systems had a return on equity of 45.42% and a net margin of 3.67%. The company had revenue of $320.83 million for the quarter, compared to analysts’ expectations of $320.41 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. equities analysts anticipate that Advanced Drainage Systems Inc will post 0.73 earnings per share for the current fiscal year.
In other Advanced Drainage Systems news, COO Ronald R. Vitarelli sold 5,500 shares of the business’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $27.16, for a total value of $149,380.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ewout Leeuwenburg sold 15,000 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $25.97, for a total value of $389,550.00. Following the completion of the sale, the senior vice president now directly owns 71,615 shares in the company, valued at $1,859,841.55. The disclosure for this sale can be found here. Insiders sold 133,048 shares of company stock worth $3,560,679 over the last three months. Corporate insiders own 21.43% of the company’s stock.
WMS has been the topic of several recent research reports. TheStreet raised Advanced Drainage Systems from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Zacks Investment Research raised Advanced Drainage Systems from a “sell” rating to a “hold” rating and set a $30.00 price target on the stock in a research note on Wednesday, February 14th. Barclays set a $25.00 price target on Advanced Drainage Systems and gave the stock a “hold” rating in a research note on Monday, February 12th. Finally, Robert W. Baird upped their price target on Advanced Drainage Systems from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $27.00.
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Advanced Drainage Systems Profile
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products for non-residential, residential, agriculture, and infrastructure applications in the United States and internationally. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.
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