Shelton Capital Management Lowers Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Shelton Capital Management cut its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,994 shares of the construction company’s stock after selling 148 shares during the quarter. Shelton Capital Management’s holdings in Advanced Drainage Systems were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its stake in Advanced Drainage Systems by 420.7% during the second quarter. Quadrant Capital Group LLC now owns 302 shares of the construction company’s stock worth $34,000 after purchasing an additional 244 shares during the period. Russell Investments Group Ltd. increased its stake in Advanced Drainage Systems by 77.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 40,642 shares of the construction company’s stock worth $4,637,000 after buying an additional 17,799 shares during the period. Private Advisor Group LLC lifted its holdings in Advanced Drainage Systems by 0.6% during the 2nd quarter. Private Advisor Group LLC now owns 21,998 shares of the construction company’s stock worth $2,503,000 after buying an additional 134 shares in the last quarter. Cetera Advisors LLC purchased a new position in Advanced Drainage Systems in the 2nd quarter valued at approximately $251,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Advanced Drainage Systems by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 414,073 shares of the construction company’s stock worth $47,113,000 after acquiring an additional 4,542 shares during the period. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Insider Activity

In other news, Director Anil Seetharam sold 150,000 shares of Advanced Drainage Systems stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $124.88, for a total value of $18,732,000.00. Following the transaction, the director now directly owns 1,317,649 shares of the company’s stock, valued at approximately $164,548,007.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Anil Seetharam sold 150,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $124.88, for a total transaction of $18,732,000.00. Following the completion of the sale, the director now owns 1,317,649 shares in the company, valued at $164,548,007.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tim A. Makowski sold 2,500 shares of Advanced Drainage Systems stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $122.35, for a total value of $305,875.00. Following the completion of the transaction, the insider now owns 6,147 shares in the company, valued at $752,085.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 560,529 shares of company stock valued at $70,677,039. 3.79% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on WMS. Stephens began coverage on Advanced Drainage Systems in a report on Thursday, August 24th. They issued an “overweight” rating and a $148.00 target price for the company. KeyCorp lowered their price target on shares of Advanced Drainage Systems from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Oppenheimer raised their price objective on shares of Advanced Drainage Systems from $140.00 to $148.00 and gave the company an “outperform” rating in a report on Thursday, August 31st. Morgan Stanley boosted their target price on shares of Advanced Drainage Systems from $114.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Finally, Barclays lifted their price target on Advanced Drainage Systems from $138.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.13.

Advanced Drainage Systems Stock Down 1.4 %

WMS opened at $117.92 on Tuesday. Advanced Drainage Systems, Inc. has a one year low of $75.02 and a one year high of $134.94. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.98 and a current ratio of 2.88. The stock has a market capitalization of $9.19 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 1.88 and a beta of 1.41. The business’s 50-day simple moving average is $114.22 and its 200-day simple moving average is $113.90.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Thursday, November 30th. Advanced Drainage Systems’s dividend payout ratio is currently 9.43%.

Advanced Drainage Systems Profile

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.