3,049 Shares in Advanced Drainage Systems, Inc. (NYSE:WMS) Acquired by Magnetar Financial LLC

Magnetar Financial LLC bought a new position in Advanced Drainage Systems, Inc. (NYSE:WMS) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,049 shares of the construction company’s stock, valued at approximately $525,000.

Several other hedge funds have also recently made changes to their positions in WMS. Raymond James & Associates raised its holdings in Advanced Drainage Systems by 18.1% during 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 period. Raymond James Financial Services Advisors Inc. grew its holdings in Advanced Drainage Systems by 88.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,320 shares of the construction company’s stock valued at $608,000 after buying an additional 2,023 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Advanced Drainage Systems by 82.9% during the fourth quarter. Pacer Advisors Inc. now owns 13,990 shares of the construction company’s stock valued at $1,968,000 after buying an additional 6,343 shares during the period. Global Retirement Partners LLC lifted its stake in Advanced Drainage Systems by 58.6% in the 4th quarter. Global Retirement Partners LLC now owns 788 shares of the construction company’s stock worth $103,000 after purchasing an additional 291 shares in the last quarter. Finally, JB Capital LLC purchased a new position in shares of Advanced Drainage Systems in the 4th quarter worth about $254,000. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Stock Down 0.3 %

Shares of WMS stock traded down $0.45 during mid-day trading on Monday, reaching $174.03. 30,368 shares of the company’s stock traded hands, compared to its average volume of 479,664. The company’s 50-day moving average price is $167.04 and its 200-day moving average price is $161.09. The company has a market cap of $13.49 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.43 and a beta of 1.55. The company has a quick ratio of 1.90, a current ratio of 2.96 and a debt-to-equity ratio of 1.13. Advanced Drainage Systems, Inc. has a 12 month low of $102.32 and a 12 month high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, May 16th. The construction company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.95 by $0.28. Advanced Drainage Systems had a net margin of 17.74% and a return on equity of 46.93%. The business had revenue of $653.80 million for the quarter, compared to analyst estimates of $611.99 million. During the same quarter in the previous year, the firm posted $1.06 earnings per share. Advanced Drainage Systems’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities analysts expect that Advanced Drainage Systems, Inc. will post 7.19 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.16 dividend. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Friday, May 31st. Advanced Drainage Systems’s dividend payout ratio is currently 9.94%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WMS shares. Northcoast Research assumed coverage on Advanced Drainage Systems in a research report on Wednesday, May 8th. They issued a “buy” rating and a $190.00 target price for the company. StockNews.com lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. KeyCorp increased their target price on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Oppenheimer lifted their target price on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Finally, Robert W. Baird upped their price target on shares of Advanced Drainage Systems from $192.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.88.

Insider Activity at Advanced Drainage Systems

In related news, EVP Robert M. Klein sold 3,059 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $175.95, for a total value of $538,231.05. Following the transaction, the executive vice president now directly owns 102,070 shares of the company’s stock, valued at approximately $17,959,216.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Robert M. Klein sold 3,059 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $175.95, for a total transaction of $538,231.05. Following the transaction, the executive vice president now owns 102,070 shares in the company, valued at $17,959,216.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Tim A. Makowski sold 3,800 shares of Advanced Drainage Systems stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $170.68, for a total transaction of $648,584.00. Following the completion of the sale, the insider now directly owns 4,530 shares of the company’s stock, valued at approximately $773,180.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,004 shares of company stock valued at $30,547,285. 2.05% of the stock is owned by insiders.

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.