Advanced Drainage Systems, Inc. (NYSE:WMS) Stake Raised by Perpetual Ltd

Perpetual Ltd grew its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,575 shares of the construction company's stock after acquiring an additional 4,889 shares during the quarter. Perpetual Ltd owned 0.07% of Advanced Drainage Systems worth $9,572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in Advanced Drainage Systems in the 4th quarter worth about $88,640,000. Wellington Management Group LLP increased its stake in shares of Advanced Drainage Systems by 107.4% in the fourth quarter. Wellington Management Group LLP now owns 567,504 shares of the construction company's stock valued at $79,814,000 after buying an additional 293,924 shares during the period. KBC Group NV raised its holdings in Advanced Drainage Systems by 78.5% in the 4th quarter. KBC Group NV now owns 659,483 shares of the construction company's stock valued at $92,750,000 after buying an additional 289,925 shares during the last quarter. abrdn plc boosted its position in Advanced Drainage Systems by 164.6% during the 4th quarter. abrdn plc now owns 377,587 shares of the construction company's stock worth $53,104,000 after buying an additional 234,883 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Advanced Drainage Systems during the 4th quarter worth approximately $32,122,000. Institutional investors own 89.83% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Advanced Drainage Systems from $192.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, May 17th. Barclays increased their price target on Advanced Drainage Systems from $189.00 to $202.00 and gave the stock an "overweight" rating in a report on Friday, May 17th. Stephens lifted their price objective 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. Northcoast Research initiated coverage on shares of Advanced Drainage Systems in a research note on Wednesday, May 8th. They issued a "buy" rating and a $190.00 price target for the company. Finally, StockNews.com raised Advanced Drainage Systems from a "hold" rating to a "buy" rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.88.

Advanced Drainage Systems Stock Down 2.6 %

WMS stock traded down $4.49 during trading on Friday, reaching $165.20. The stock had a trading volume of 1,152,616 shares, compared to its average volume of 473,559. Advanced Drainage Systems, Inc. has a one year low of $102.32 and a one year high of $184.27. The company's 50 day moving average is $167.83 and its two-hundred day moving average is $155.45. The company has a market capitalization of $12.80 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.45 and a beta of 1.58. The company has a quick ratio of 1.90, a current ratio of 2.96 and a debt-to-equity ratio of 1.13.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its quarterly earnings results on Thursday, May 16th. The construction company reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.28. The company had revenue of $653.80 million during 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%. Advanced Drainage Systems's revenue was up 5.9% on a year-over-year basis. During the same period last year, the business posted $1.06 earnings per share. Equities research analysts forecast that Advanced Drainage Systems, Inc. will post 7.17 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.64 annualized dividend and a yield of 0.39%. This is a positive change from Advanced Drainage Systems's previous quarterly dividend of $0.14. Advanced Drainage Systems's dividend payout ratio is presently 9.94%.

Insider Buying and Selling

In other Advanced Drainage Systems news, insider D. Scott Barbour sold 85,938 shares of the business's stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $174.10, for a total value of $14,961,805.80. Following the transaction, the insider now directly owns 45,994 shares in the company, valued at $8,007,555.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Advanced Drainage Systems news, insider D. Scott Barbour sold 85,938 shares of the firm's stock in a transaction on Friday, May 24th. The stock was sold at an average price of $174.10, for a total value of $14,961,805.80. Following the completion of the sale, the insider now directly owns 45,994 shares of the company's stock, valued at $8,007,555.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tim A. Makowski sold 3,800 shares of the company's stock in a transaction 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 directly owns 4,530 shares in the company, valued at approximately $773,180.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,004 shares of company stock worth $30,547,285. Insiders own 2.05% of the company's stock.

About Advanced Drainage Systems

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.