Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,215 shares of the construction company’s stock after selling 101 shares during the period. New York Life Investment Management LLC’s holdings in Advanced Drainage Systems were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC increased its holdings in shares of Advanced Drainage Systems by 13.3% in the third quarter. William Blair Investment Management LLC now owns 1,445,326 shares of the construction company’s stock valued at $164,521,000 after purchasing an additional 169,517 shares during the period. Cerity Partners LLC increased its holdings in Advanced Drainage Systems by 428.8% in the 4th quarter. Cerity Partners LLC now owns 22,449 shares of the construction company’s stock worth $3,157,000 after buying an additional 18,204 shares during the period. Vanguard Group Inc. raised its position in Advanced Drainage Systems by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,878,726 shares of the construction company’s stock worth $783,005,000 after buying an additional 65,038 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Advanced Drainage Systems by 82.9% during the 4th quarter. Pacer Advisors Inc. now owns 13,990 shares of the construction company’s stock valued at $1,968,000 after acquiring an additional 6,343 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of Advanced Drainage Systems by 18.1% in the 4th quarter. Raymond James & Associates now owns 42,273 shares of the construction company’s stock valued at $5,945,000 after acquiring an additional 6,467 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stephens boosted their target price on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. KeyCorp upped their target price on Advanced Drainage Systems from $160.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Oppenheimer lifted their price target on Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Finally, StockNews.com upgraded Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $159.13.

Insider Buying and Selling

In other Advanced Drainage Systems news, Director Ross M. Jones sold 762,895 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the completion of the transaction, the director now owns 70,749 shares of the company’s stock, valued at $11,532,087. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Advanced Drainage Systems news, Director Ross M. Jones sold 762,895 shares of Advanced Drainage Systems stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the sale, the director now owns 70,749 shares of the company’s stock, valued at approximately $11,532,087. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael G. Huebert sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the sale, the executive vice president now directly owns 13,450 shares of the company’s stock, valued at approximately $2,199,344. The disclosure for this sale can be found here. 3.79% of the stock is currently owned by insiders.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $168.05 on Wednesday. The company has a market capitalization of $13.04 billion, a P/E ratio of 26.72, a P/E/G ratio of 1.49 and a beta of 1.51. Advanced Drainage Systems, Inc. has a 12-month low of $84.71 and a 12-month high of $176.31. The business’s 50 day moving average is $164.67 and its two-hundred day moving average is $143.11. The company has a current ratio of 3.03, a quick ratio of 2.04 and a debt-to-equity ratio of 1.18.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, February 8th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.44. The firm had revenue of $662.37 million for the quarter, compared to analysts’ expectations of $632.69 million. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. Analysts expect that Advanced Drainage Systems, Inc. will post 6.09 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Thursday, February 29th. Advanced Drainage Systems’s dividend payout ratio is presently 8.90%.

Advanced Drainage Systems Company 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.