The Rhumbline Advisers Boosts Stock Position in Advanced Drainage Systems Inc (NYSE:WMS)
June 03, 2020
Rhumbline Advisers grew its holdings in shares of Advanced Drainage Systems Inc (NYSE:WMS) by 6.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,086 shares of the construction company’s stock after purchasing an additional 3,721 shares during the quarter. Rhumbline Advisers’ holdings in Advanced Drainage Systems were worth $1,769,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Advanced Drainage Systems by 1.0% during the 1st quarter. BlackRock Inc. now owns 3,806,082 shares of the construction company’s stock valued at $112,051,000 after purchasing an additional 38,760 shares during the last quarter. Pictet Asset Management Ltd. grew its stake in shares of Advanced Drainage Systems by 2.1% during the 4th quarter. Pictet Asset Management Ltd. now owns 1,576,925 shares of the construction company’s stock valued at $61,248,000 after acquiring an additional 33,164 shares during the period. Beck Mack & Oliver LLC grew its stake in shares of Advanced Drainage Systems by 10.2% during the 1st quarter. Beck Mack & Oliver LLC now owns 1,061,986 shares of the construction company’s stock valued at $31,265,000 after acquiring an additional 98,709 shares during the period. Norges Bank bought a new position in Advanced Drainage Systems in the 4th quarter worth approximately $34,286,000. Finally, State Street Corp grew its holdings in Advanced Drainage Systems by 12.2% during the 4th quarter. State Street Corp now owns 874,878 shares of the construction company’s stock valued at $33,980,000 after buying an additional 95,110 shares in the last quarter. 66.72% of the stock is owned by hedge funds and other institutional investors.
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A number of brokerages recently weighed in on WMS. Zacks Investment Research restated a “hold” rating on shares of Advanced Drainage Systems in a research report on Saturday. ValuEngine upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Tuesday, February 11th. Morgan Stanley lifted their price target on shares of Advanced Drainage Systems from $27.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Robert W. Baird lifted their price target on shares of Advanced Drainage Systems from $40.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Finally, Barclays lifted their price target on shares of Advanced Drainage Systems from $41.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Advanced Drainage Systems presently has an average rating of “Buy” and an average target price of $44.20.
In related news, Director Alexander R. Fischer sold 2,400 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $43.95, for a total transaction of $105,480.00. Following the transaction, the director now directly owns 21,110 shares in the company, valued at approximately $927,784.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert M. Klein sold 125,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $45.02, for a total transaction of $5,627,500.00. Following the transaction, the executive vice president now owns 301,629 shares in the company, valued at $13,579,337.58. The disclosure for this sale can be found here. Insiders have sold a total of 149,320 shares of company stock worth $6,733,190 over the last quarter. 20.84% of the stock is currently owned by insiders.
Advanced Drainage Systems stock opened at $45.68 on Wednesday. The company’s 50-day moving average price is $39.35 and its 200-day moving average price is $39.14. Advanced Drainage Systems Inc has a twelve month low of $22.13 and a twelve month high of $51.60. The company has a quick ratio of 1.19, a current ratio of 2.37 and a debt-to-equity ratio of 2.00. The company has a market cap of $3.82 billion, a PE ratio of -12.45 and a beta of 1.42.
Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, May 21st. The construction company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). Advanced Drainage Systems had a positive return on equity of 14.65% and a negative net margin of 11.62%. The business had revenue of $370.80 million during the quarter, compared to the consensus estimate of $371.11 million. During the same quarter last year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 36.2% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Drainage Systems Inc will post 1.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.79%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently -11.21%.
Advanced Drainage Systems Company Profile
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.