Geode Capital Management LLC boosted its holdings in Advanced Drainage Systems Inc (NYSE:WMS) by 12.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 329,844 shares of the construction company’s stock after purchasing an additional 36,475 shares during the quarter. Geode Capital Management LLC owned about 0.59% of Advanced Drainage Systems worth $7,866,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP raised its position in Advanced Drainage Systems by 142.4% in the 3rd quarter. GSA Capital Partners LLP now owns 74,970 shares of the construction company’s stock valued at $1,518,000 after purchasing an additional 44,039 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Advanced Drainage Systems by 19.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 185,477 shares of the construction company’s stock valued at $4,424,000 after purchasing an additional 29,793 shares during the last quarter. Nationwide Fund Advisors raised its position in Advanced Drainage Systems by 84.1% in the 3rd quarter. Nationwide Fund Advisors now owns 35,689 shares of the construction company’s stock valued at $723,000 after purchasing an additional 16,300 shares during the last quarter. Jane Street Group LLC purchased a new stake in Advanced Drainage Systems in the 3rd quarter valued at $264,000. Finally, JPMorgan Chase & Co. raised its position in Advanced Drainage Systems by 8.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,240,101 shares of the construction company’s stock valued at $25,918,000 after purchasing an additional 100,044 shares during the last quarter. Hedge funds and other institutional investors own 79.52% of the company’s stock.
Several research firms recently commented on WMS. Barclays set a $25.00 price target on shares of Advanced Drainage Systems and gave the company a “hold” rating in a research report on Monday, February 12th. Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating and set a $30.00 price target for the company in a research report on Wednesday, February 14th. TheStreet upgraded shares of Advanced Drainage Systems from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Finally, Robert W. Baird upped their price target on shares of Advanced Drainage Systems from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $27.00.
Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, February 8th. The construction company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.27. The company had revenue of $320.83 million during the quarter, compared to the consensus estimate of $320.41 million. Advanced Drainage Systems had a net margin of 3.67% and a return on equity of 45.42%. Advanced Drainage Systems’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. equities research analysts forecast that Advanced Drainage Systems Inc will post 0.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.28 dividend on an annualized basis and a yield of 1.14%. Advanced Drainage Systems’s payout ratio is currently 56.00%.
In other Advanced Drainage Systems news, EVP Robert M. Klein sold 57,448 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $27.32, for a total transaction of $1,569,479.36. Following the completion of the transaction, the executive vice president now owns 282,757 shares in the company, valued at approximately $7,724,921.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Thomas M. Fussner sold 20,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $26.63, for a total transaction of $532,600.00. Following the transaction, the chief operating officer now owns 560,640 shares of the company’s stock, valued at approximately $14,929,843.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,048 shares of company stock valued at $3,560,679. 21.43% of the stock is owned by insiders.
Advanced Drainage Systems Profile
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products for non-residential, residential, agriculture, and infrastructure applications in the United States and internationally. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.
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