CANADA LIFE ASSURANCE Co Grows Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

CANADA LIFE ASSURANCE Co increased its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 24.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 63,780 shares of the construction company's stock after buying an additional 12,655 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.08% of Advanced Drainage Systems worth $11,006,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Advanced Drainage Systems by 319.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company's stock worth $26,000 after acquiring an additional 115 shares during the period. Rise Advisors LLC bought a new stake in shares of Advanced Drainage Systems in the 1st quarter worth approximately $32,000. GAMMA Investing LLC purchased a new position in Advanced Drainage Systems in the fourth quarter valued at approximately $28,000. Avalon Trust Co bought a new position in Advanced Drainage Systems during the fourth quarter valued at $38,000. Finally, Tobam bought a new position in Advanced Drainage Systems during the first quarter valued at $56,000. Institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Price Performance

Advanced Drainage Systems stock traded up $6.37 during midday trading on Friday, reaching $174.48. 511,904 shares of the stock were exchanged, compared to its average volume of 482,806. Advanced Drainage Systems, Inc. has a 52 week low of $102.32 and a 52 week high of $184.27. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.90 and a current ratio of 2.96. The firm has a market cap of $13.52 billion, a PE ratio of 26.12, a PEG ratio of 1.34 and a beta of 1.55. The company's fifty day moving average is $167.03 and its 200-day moving average is $160.35.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its quarterly earnings results on Thursday, May 16th. The construction company reported $1.23 earnings per share 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 analysts' expectations of $611.99 million. Advanced Drainage Systems had a net margin of 17.74% and a return on equity of 46.93%. The business's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 earnings per share. On average, sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 7.19 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.14. Advanced Drainage Systems's dividend payout ratio (DPR) is 9.94%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WMS. Northcoast Research started coverage on Advanced Drainage Systems in a research report on Wednesday, May 8th. They set a "buy" rating and a $190.00 price target on the stock. StockNews.com downgraded shares of Advanced Drainage Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 17th. Robert W. Baird lifted their target price on shares of Advanced Drainage Systems from $192.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, May 17th. Stephens upped their price target 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. Finally, KeyCorp lifted their price objective on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, May 17th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Advanced Drainage Systems presently has an average rating of "Moderate Buy" and an average target price of $181.88.

Insider Transactions at Advanced Drainage Systems

In related news, CFO Scott A. Cottrill sold 73,207 shares of the firm's stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $173.11, for a total value of $12,672,863.77. Following the sale, the chief financial officer now directly owns 91,442 shares of the company's stock, valued at $15,829,524.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Robert M. Klein sold 3,059 shares of the company's stock in a transaction on Friday, May 24th. The shares were sold at an average price of $175.95, for a total value of $538,231.05. Following the completion of the transaction, the executive vice president now directly owns 102,070 shares in the company, valued at $17,959,216.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott A. Cottrill sold 73,207 shares of the firm's stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $173.11, for a total value of $12,672,863.77. Following the sale, the chief financial officer now owns 91,442 shares in the company, valued at approximately $15,829,524.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,004 shares of company stock valued at $30,547,285. 2.05% of the stock is owned by corporate insiders.

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.