Advanced Drainage Systems, Inc. $WMS Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 408,664 shares of the construction company’s stock after selling 19,790 shares during the quarter. TD Asset Management Inc owned about 0.53% of Advanced Drainage Systems worth $56,682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WMS. Impax Asset Management Group plc grew its holdings in Advanced Drainage Systems by 4.8% in the 2nd quarter. Impax Asset Management Group plc now owns 3,043,909 shares of the construction company’s stock worth $348,709,000 after buying an additional 139,495 shares in the last quarter. First Trust Advisors LP boosted its position in Advanced Drainage Systems by 5.7% during the 2nd quarter. First Trust Advisors LP now owns 2,178,763 shares of the construction company’s stock worth $250,253,000 after acquiring an additional 117,963 shares during the period. American Century Companies Inc. boosted its position in Advanced Drainage Systems by 0.3% during the 2nd quarter. American Century Companies Inc. now owns 1,382,070 shares of the construction company’s stock worth $158,745,000 after acquiring an additional 3,583 shares during the period. KBC Group NV grew its stake in shares of Advanced Drainage Systems by 0.7% in the second quarter. KBC Group NV now owns 880,373 shares of the construction company’s stock worth $101,120,000 after purchasing an additional 6,154 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Advanced Drainage Systems during the second quarter valued at $90,989,000. Institutional investors own 89.83% of the company’s stock.

Insider Buying and Selling at Advanced Drainage Systems

In related news, Director Robert M. Eversole sold 10,569 shares of Advanced Drainage Systems stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $152.82, for a total value of $1,615,154.58. Following the transaction, the director owned 50,076 shares of the company’s stock, valued at approximately $7,652,614.32. This trade represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.63% of the stock is owned by company insiders.

Analysts Set New Price Targets

WMS has been the subject of several research analyst reports. Robert W. Baird set a $205.00 price objective on shares of Advanced Drainage Systems in a report on Friday, February 6th. KeyCorp upped their price target on shares of Advanced Drainage Systems from $180.00 to $198.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Oppenheimer increased their price objective on shares of Advanced Drainage Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Wednesday, January 21st. Finally, UBS Group set a $215.00 price target on Advanced Drainage Systems and gave the company a “buy” rating in a research note on Friday, February 6th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and a consensus price target of $186.00.

Advanced Drainage Systems Trading Up 1.3%

Shares of NYSE:WMS opened at $172.18 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 3.08 and a current ratio of 4.12. The stock has a market capitalization of $13.41 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 2.00 and a beta of 1.34. Advanced Drainage Systems, Inc. has a 1-year low of $93.92 and a 1-year high of $179.32. The company has a 50 day moving average price of $158.76 and a 200 day moving average price of $148.87.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.16. The company had revenue of $693.35 million for the quarter, compared to analysts’ expectations of $686.37 million. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. On average, research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, March 2nd. Advanced Drainage Systems’s dividend payout ratio is currently 11.98%.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.