Envestnet Asset Management Inc. Lowers Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Envestnet Asset Management Inc. reduced its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 13.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,185 shares of the construction company’s stock after selling 6,033 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Advanced Drainage Systems were worth $4,345,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich raised its position in Advanced Drainage Systems by 100,700.3% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 135,944,298 shares of the construction company’s stock valued at $15,467,742,000 after buying an additional 135,809,433 shares during the last quarter. BlackRock Inc. grew its stake in Advanced Drainage Systems by 76.4% in the 1st quarter. BlackRock Inc. now owns 6,672,684 shares of the construction company’s stock valued at $561,907,000 after purchasing an additional 2,890,821 shares during the period. Vanguard Group Inc. grew its stake in Advanced Drainage Systems by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,387,305 shares of the construction company’s stock valued at $794,389,000 after purchasing an additional 278,780 shares during the period. Baillie Gifford & Co. grew its stake in Advanced Drainage Systems by 40.7% in the 2nd quarter. Baillie Gifford & Co. now owns 3,610,702 shares of the construction company’s stock valued at $410,826,000 after purchasing an additional 1,044,426 shares during the period. Finally, Impax Asset Management Group plc grew its stake in Advanced Drainage Systems by 26.4% in the 1st quarter. Impax Asset Management Group plc now owns 3,542,220 shares of the construction company’s stock valued at $297,639,000 after purchasing an additional 740,194 shares during the period. 84.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Advanced Drainage Systems news, EVP Robert M. Klein sold 6,353 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $111.85, for a total value of $710,583.05. Following the completion of the transaction, the executive vice president now owns 108,500 shares in the company, valued at approximately $12,135,725. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Advanced Drainage Systems news, EVP Robert M. Klein sold 6,353 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $111.85, for a total value of $710,583.05. Following the sale, the executive vice president now owns 108,500 shares of the company’s stock, valued at approximately $12,135,725. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ross M. Jones sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $122.19, for a total value of $8,553,300.00. Following the completion of the sale, the director now directly owns 772,895 shares in the company, valued at approximately $94,440,040.05. The disclosure for this sale can be found here. Insiders sold a total of 560,529 shares of company stock worth $70,677,039 in the last quarter. 3.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WMS shares. Deutsche Bank Aktiengesellschaft upped their price objective on Advanced Drainage Systems from $131.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Stephens initiated coverage on Advanced Drainage Systems in a research note on Thursday, August 24th. They set an “overweight” rating and a $148.00 price target for the company. Morgan Stanley increased their price target on Advanced Drainage Systems from $114.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Robert W. Baird increased their price target on Advanced Drainage Systems from $125.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Finally, Barclays increased their price target on Advanced Drainage Systems from $138.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.13.

Advanced Drainage Systems Stock Down 1.4 %

Shares of NYSE WMS opened at $117.92 on Tuesday. Advanced Drainage Systems, Inc. has a 52 week low of $75.02 and a 52 week high of $134.94. The business has a 50-day simple moving average of $114.22 and a two-hundred day simple moving average of $113.90. The company has a quick ratio of 1.98, a current ratio of 2.88 and a debt-to-equity ratio of 1.24. The company has a market cap of $9.19 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.88 and a beta of 1.41.

Advanced Drainage Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.14 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.56 annualized dividend and a yield of 0.47%. Advanced Drainage Systems’s dividend payout ratio is currently 9.43%.

Advanced Drainage Systems 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.