Janney Montgomery Scott LLC Grows Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Janney Montgomery Scott LLC boosted its position in Advanced Drainage Systems, Inc. (NYSE:WMSGet Rating) by 108.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,440 shares of the construction company’s stock after acquiring an additional 2,828 shares during the period. Janney Montgomery Scott LLC’s holdings in Advanced Drainage Systems were worth $676,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Hawaiian Bank grew its stake in Advanced Drainage Systems by 43.9% in the 2nd quarter. First Hawaiian Bank now owns 6,605 shares of the construction company’s stock worth $595,000 after acquiring an additional 2,015 shares during the period. Sei Investments Co. boosted its holdings in shares of Advanced Drainage Systems by 86.1% in the 2nd quarter. Sei Investments Co. now owns 241,224 shares of the construction company’s stock valued at $21,668,000 after purchasing an additional 111,611 shares during the last quarter. Ellevest Inc. acquired a new position in shares of Advanced Drainage Systems in the 2nd quarter valued at $78,000. Xponance Inc. boosted its holdings in shares of Advanced Drainage Systems by 1.4% in the 2nd quarter. Xponance Inc. now owns 7,123 shares of the construction company’s stock valued at $642,000 after purchasing an additional 95 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Advanced Drainage Systems by 2.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,144,133 shares of the construction company’s stock valued at $103,051,000 after purchasing an additional 23,902 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock opened at $89.13 on Friday. Advanced Drainage Systems, Inc. has a 12-month low of $79.90 and a 12-month high of $153.36. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 16.44 and a beta of 1.30. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.07 and a quick ratio of 1.98. The firm’s fifty day moving average price is $87.75 and its 200 day moving average price is $110.10.

Advanced Drainage Systems (NYSE:WMSGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The construction company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.08). Advanced Drainage Systems had a return on equity of 51.62% and a net margin of 14.34%. The firm had revenue of $884.20 million for the quarter, compared to analysts’ expectations of $928.04 million. During the same period last year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 25.2% on a year-over-year basis. On average, research analysts forecast that Advanced Drainage Systems, Inc. will post 6.01 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, November 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is 8.86%.

Insider Transactions at Advanced Drainage Systems

In other news, SVP Michael G. Huebert sold 1,033 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $94.02, for a total value of $97,122.66. Following the completion of the sale, the senior vice president now owns 49,729 shares of the company’s stock, valued at approximately $4,675,520.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Michael G. Huebert sold 1,033 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $94.02, for a total value of $97,122.66. Following the completion of the sale, the senior vice president now owns 49,729 shares of the company’s stock, valued at approximately $4,675,520.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director De La Mesa Manuel J. Perez bought 5,000 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was bought at an average cost of $81.90 per share, with a total value of $409,500.00. Following the transaction, the director now directly owns 18,493 shares in the company, valued at approximately $1,514,576.70. The disclosure for this purchase can be found here. Insiders own 9.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WMS shares. Robert W. Baird decreased their price target on shares of Advanced Drainage Systems from $168.00 to $121.00 in a report on Friday, November 4th. StockNews.com initiated coverage on shares of Advanced Drainage Systems in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley reduced their target price on shares of Advanced Drainage Systems from $152.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Advanced Drainage Systems from $159.00 to $140.00 in a report on Monday, November 7th. Finally, Barclays lifted their target price on shares of Advanced Drainage Systems from $122.00 to $127.00 in a report on Wednesday, December 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and a consensus price target of $126.40.

Advanced Drainage Systems Company Profile

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Advanced Drainage Systems, Inc engages in the manufacture of thermoplastic corrugated pipe, which provides a suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. It operates through the following segments: Pipe, Infiltrator, International, and Allied Products & Other.

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Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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