Thrivent Financial for Lutherans Increases Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Thrivent Financial for Lutherans grew its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 43.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,570,285 shares of the construction company’s stock after buying an additional 474,782 shares during the period. Thrivent Financial for Lutherans owned 1.93% of Advanced Drainage Systems worth $132,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Belpointe Asset Management LLC purchased a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at about $27,000. Neo Ivy Capital Management acquired a new position in shares of Advanced Drainage Systems during the second quarter worth about $33,000. Global Retirement Partners LLC increased its stake in shares of Advanced Drainage Systems by 8,940.0% during the first quarter. Global Retirement Partners LLC now owns 452 shares of the construction company’s stock worth $39,000 after acquiring an additional 447 shares during the period. Point72 Middle East FZE acquired a new position in shares of Advanced Drainage Systems during the fourth quarter worth about $88,000. Finally, Lazard Asset Management LLC increased its stake in shares of Advanced Drainage Systems by 98.2% during the first quarter. Lazard Asset Management LLC now owns 1,132 shares of the construction company’s stock worth $134,000 after acquiring an additional 561 shares during the period. 84.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on WMS shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Advanced Drainage Systems from $131.00 to $162.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. StockNews.com assumed coverage on shares of Advanced Drainage Systems in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Robert W. Baird upped their price objective on shares of Advanced Drainage Systems from $125.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Oppenheimer upped their price objective on shares of Advanced Drainage Systems from $140.00 to $148.00 and gave the company an “outperform” rating in a research note on Thursday, August 31st. Finally, Morgan Stanley upped their price objective on shares of Advanced Drainage Systems from $114.00 to $133.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Advanced Drainage Systems Price Performance

Advanced Drainage Systems stock opened at $121.34 on Wednesday. Advanced Drainage Systems, Inc. has a 52-week low of $75.02 and a 52-week high of $138.80. The firm has a fifty day moving average of $123.93 and a 200-day moving average of $103.33. The firm has a market capitalization of $9.55 billion, a P/E ratio of 20.12, a PEG ratio of 1.96 and a beta of 1.39. The company has a quick ratio of 1.75, a current ratio of 2.78 and a debt-to-equity ratio of 1.34.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.51. Advanced Drainage Systems had a net margin of 16.82% and a return on equity of 50.53%. The company had revenue of $778.00 million during the quarter, compared to analyst estimates of $746.08 million. During the same quarter in the prior year, the business earned $2.22 earnings per share. The business’s quarterly revenue was down 14.9% compared to the same quarter last year. As a group, analysts predict that Advanced Drainage Systems, Inc. will post 5.63 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Thursday, August 31st. Advanced Drainage Systems’s payout ratio is 9.29%.

Insider Activity at Advanced Drainage Systems

In related news, Director Ross M. Jones sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $128.27, for a total transaction of $3,206,750.00. Following the completion of the sale, the director now directly owns 1,214,369 shares of the company’s stock, valued at approximately $155,767,111.63. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Advanced Drainage Systems news, EVP Robert M. Klein sold 8,275 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $130.09, for a total transaction of $1,076,494.75. Following the completion of the transaction, the executive vice president now directly owns 111,972 shares of the company’s stock, valued at approximately $14,566,437.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ross M. Jones sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $128.27, for a total transaction of $3,206,750.00. Following the transaction, the director now directly owns 1,214,369 shares of the company’s stock, valued at $155,767,111.63. The disclosure for this sale can be found here. In the last three months, insiders sold 483,274 shares of company stock valued at $61,394,186. Corporate insiders own 3.79% of the company’s stock.

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.