Candriam Luxembourg S.C.A. grew its holdings in Advanced Drainage Systems Inc (NYSE:WMS) by 264.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,705 shares of the construction company’s stock after buying an additional 94,135 shares during the period. Candriam Luxembourg S.C.A. owned 0.19% of Advanced Drainage Systems worth $5,038,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in WMS. American International Group Inc. boosted its holdings in shares of Advanced Drainage Systems by 18.2% during the 4th quarter. American International Group Inc. now owns 27,172 shares of the construction company’s stock valued at $1,055,000 after acquiring an additional 4,185 shares in the last quarter. Rhumbline Advisers lifted its holdings in Advanced Drainage Systems by 16.0% during the 4th quarter. Rhumbline Advisers now owns 56,365 shares of the construction company’s stock worth $2,189,000 after buying an additional 7,789 shares during the period. New York State Common Retirement Fund lifted its holdings in Advanced Drainage Systems by 1.0% during the 4th quarter. New York State Common Retirement Fund now owns 39,000 shares of the construction company’s stock worth $1,515,000 after buying an additional 400 shares during the period. Principal Financial Group Inc. lifted its holdings in Advanced Drainage Systems by 339.9% during the 4th quarter. Principal Financial Group Inc. now owns 339,767 shares of the construction company’s stock worth $13,197,000 after buying an additional 262,528 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Advanced Drainage Systems by 33.7% during the 4th quarter. Victory Capital Management Inc. now owns 8,589 shares of the construction company’s stock worth $357,000 after buying an additional 2,167 shares during the period. 81.36% of the stock is owned by institutional investors.
In other news, insider Tim A. Makowski sold 1,831 shares of Advanced Drainage Systems stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $38.63, for a total value of $70,731.53. Following the completion of the transaction, the insider now directly owns 4,773 shares of the company’s stock, valued at approximately $184,380.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Ewout Leeuwenburg sold 5,000 shares of Advanced Drainage Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $36.88, for a total value of $184,400.00. Following the completion of the transaction, the senior vice president now directly owns 59,210 shares of the company’s stock, valued at $2,183,664.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,541 shares of company stock valued at $3,048,795. Corporate insiders own 20.84% of the company’s stock.
Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, February 6th. The construction company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.03). Advanced Drainage Systems had a positive return on equity of 16.13% and a negative net margin of 12.43%. The company had revenue of $393.40 million for the quarter, compared to analyst estimates of $392.60 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. Equities research analysts predict that Advanced Drainage Systems Inc will post -3.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 29.51%.
Several brokerages have commented on WMS. Bank of America began coverage on Advanced Drainage Systems in a report on Tuesday, December 3rd. They set a “buy” rating and a $46.00 target price on the stock. Zacks Investment Research downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. ValuEngine raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Tuesday. Robert W. Baird set a $68.00 target price on Advanced Drainage Systems and gave the stock a “hold” rating in a report on Friday, October 18th. Finally, Morgan Stanley lifted their target price on Advanced Drainage Systems from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Advanced Drainage Systems has a consensus rating of “Hold” and an average price target of $48.60.
About Advanced Drainage Systems
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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