Raymond James Financial Services Advisors Inc. Acquires 2,023 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Raymond James Financial Services Advisors Inc. grew its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 88.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,320 shares of the construction company’s stock after purchasing an additional 2,023 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Advanced Drainage Systems were worth $608,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of Advanced Drainage Systems during the third quarter valued at about $25,000. Contravisory Investment Management Inc. purchased a new position in shares of Advanced Drainage Systems during the fourth quarter valued at about $27,000. Neo Ivy Capital Management purchased a new position in shares of Advanced Drainage Systems during the second quarter valued at about $33,000. Belpointe Asset Management LLC grew its position in shares of Advanced Drainage Systems by 47.8% during the first quarter. Belpointe Asset Management LLC now owns 495 shares of the construction company’s stock valued at $42,000 after purchasing an additional 160 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Advanced Drainage Systems during the third quarter valued at about $82,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Down 2.5 %

Shares of NYSE:WMS opened at $156.87 on Thursday. Advanced Drainage Systems, Inc. has a 1 year low of $80.41 and a 1 year high of $176.31. The business has a 50 day simple moving average of $164.93 and a two-hundred day simple moving average of $138.47. The firm has a market capitalization of $12.18 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 1.42 and a beta of 1.50. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 2.04.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, February 8th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.44. Advanced Drainage Systems had a return on equity of 49.79% and a net margin of 17.65%. The business had revenue of $662.37 million during the quarter, compared to analyst estimates of $632.69 million. During the same quarter in the previous year, the business earned $0.99 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts predict that Advanced Drainage Systems, Inc. will post 6.07 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.56 annualized dividend and a dividend yield of 0.36%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 8.90%.

Insider Activity

In other news, Director Ross M. Jones sold 762,895 shares of Advanced Drainage Systems stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the completion of the sale, the director now owns 70,749 shares of the company’s stock, valued at $11,532,087. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Michael G. Huebert sold 10,000 shares of Advanced Drainage Systems stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the completion of the sale, the executive vice president now owns 13,450 shares of the company’s stock, valued at $2,199,344. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ross M. Jones sold 762,895 shares of Advanced Drainage Systems stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the sale, the director now directly owns 70,749 shares of the company’s stock, valued at approximately $11,532,087. The disclosure for this sale can be found here. Insiders own 3.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. KeyCorp raised their price objective on Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. StockNews.com lowered Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. Finally, Stephens lifted their price target on Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.13.

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.