Rhumbline Advisers lifted its position in shares of Advanced Drainage Systems Inc (NYSE:WMS) by 27.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,427 shares of the construction company’s stock after buying an additional 8,979 shares during the quarter. Rhumbline Advisers owned approximately 0.07% of Advanced Drainage Systems worth $1,183,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hsbc Holdings PLC purchased a new stake in shares of Advanced Drainage Systems during the first quarter worth about $207,000. Trexquant Investment LP purchased a new stake in Advanced Drainage Systems in the first quarter valued at approximately $257,000. Mackay Shields LLC purchased a new stake in Advanced Drainage Systems in the first quarter valued at approximately $363,000. Commonwealth Equity Services LLC purchased a new stake in Advanced Drainage Systems in the first quarter valued at approximately $410,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Advanced Drainage Systems in the first quarter valued at approximately $430,000. Institutional investors and hedge funds own 78.10% of the company’s stock.
In other news, major shareholder Berkshire Partners Holdings Ll bought 1,500,000 shares of Advanced Drainage Systems stock in a transaction dated Tuesday, August 28th. The shares were acquired at an average cost of $30.08 per share, with a total value of $45,120,000.00. Following the completion of the transaction, the insider now owns 745,556 shares in the company, valued at approximately $22,426,324.48. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Ewout Leeuwenburg sold 30,000 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $31.42, for a total transaction of $942,600.00. Following the transaction, the senior vice president now directly owns 73,062 shares in the company, valued at $2,295,608.04. The disclosure for this sale can be found here. Insiders own 20.97% of the company’s stock.
WMS opened at $31.90 on Monday. The company has a quick ratio of 1.10, a current ratio of 2.22 and a debt-to-equity ratio of 1.99. Advanced Drainage Systems Inc has a 52-week low of $17.90 and a 52-week high of $33.50. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 39.38 and a beta of 0.94.
Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, August 9th. The construction company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.11. Advanced Drainage Systems had a net margin of 5.43% and a return on equity of 47.60%. The business had revenue of $387.85 million for the quarter, compared to analysts’ expectations of $382.67 million. During the same period in the previous year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. research analysts predict that Advanced Drainage Systems Inc will post 1.1 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. Advanced Drainage Systems’s payout ratio is currently 39.51%.
A number of research firms recently issued reports on WMS. Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 11th. Barclays boosted their target price on shares of Advanced Drainage Systems from $25.00 to $29.00 and gave the company a “hold” rating in a report on Wednesday, May 30th. Boenning Scattergood restated a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, August 9th. ValuEngine upgraded shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Finally, Robert W. Baird boosted their target price on shares of Advanced Drainage Systems from $29.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, May 30th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Advanced Drainage Systems has an average rating of “Hold” and an average price target of $32.25.
Advanced Drainage Systems Company Profile
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.
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