Alliancebernstein L.P. lessened its position in Advanced Drainage Systems Inc (NYSE:WMS) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,935 shares of the construction company’s stock after selling 1,997 shares during the quarter. Alliancebernstein L.P. owned 0.10% of Advanced Drainage Systems worth $1,286,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in WMS. Nationwide Fund Advisors lifted its holdings in shares of Advanced Drainage Systems by 84.1% in the 3rd quarter. Nationwide Fund Advisors now owns 35,689 shares of the construction company’s stock worth $723,000 after acquiring an additional 16,300 shares during the last quarter. Sei Investments Co. increased its stake in Advanced Drainage Systems by 50.0% in the 3rd quarter. Sei Investments Co. now owns 15,525 shares of the construction company’s stock worth $314,000 after buying an additional 5,178 shares during the period. JPMorgan Chase & Co. increased its stake 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 worth $25,918,000 after buying an additional 100,044 shares during the period. Wells Fargo & Company MN increased its stake in Advanced Drainage Systems by 53.7% in the 3rd quarter. Wells Fargo & Company MN now owns 45,121 shares of the construction company’s stock worth $913,000 after buying an additional 15,769 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Advanced Drainage Systems by 6.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 155,684 shares of the construction company’s stock worth $3,153,000 after buying an additional 8,915 shares during the period. Hedge funds and other institutional investors own 79.52% of the company’s stock.
WMS stock opened at $24.60 on Friday. The stock has a market capitalization of $1,389.66, a P/E ratio of 46.60 and a beta of 0.88. Advanced Drainage Systems Inc has a 12 month low of $17.90 and a 12 month high of $28.15. The company has a current ratio of 2.10, a quick ratio of 1.01 and a debt-to-equity ratio of 2.44.
The firm also recently announced 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. This represents a $0.28 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, February 28th. Advanced Drainage Systems’s dividend payout ratio (DPR) is 56.00%.
WMS has been the topic of several recent analyst reports. Barclays initiated coverage on shares of Advanced Drainage Systems in a research note on Wednesday, December 20th. They issued an “equal weight” rating and a $24.00 price target on the stock. Robert W. Baird raised their price target on shares of Advanced Drainage Systems from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Zacks Investment Research raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating and set a $30.00 price target on the stock in a research note on Wednesday, February 14th. Finally, TheStreet raised shares of Advanced Drainage Systems from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $27.00.
In other Advanced Drainage Systems news, COO Ronald R. Vitarelli sold 5,500 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $27.16, for a total transaction of $149,380.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert M. Klein sold 57,448 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 282,757 shares in the company, valued at approximately $7,724,921.24. The disclosure for this sale can be found here. Insiders have sold a total of 133,048 shares of company stock worth $3,560,679 in the last three months. Insiders own 21.43% of the company’s stock.
Advanced Drainage Systems Company 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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