abrdn plc Increases Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

abrdn plc increased its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 164.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377,587 shares of the construction company’s stock after buying an additional 234,883 shares during the period. abrdn plc owned about 0.48% of Advanced Drainage Systems worth $53,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WMS. American Century Companies Inc. lifted its position in shares of Advanced Drainage Systems by 11.6% during the 1st quarter. American Century Companies Inc. now owns 7,487 shares of the construction company’s stock valued at $890,000 after buying an additional 779 shares in the last quarter. Natixis Advisors L.P. purchased a new position in shares of Advanced Drainage Systems during the 1st quarter valued at approximately $1,741,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Advanced Drainage Systems by 61.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,606 shares of the construction company’s stock valued at $1,141,000 after buying an additional 3,653 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Advanced Drainage Systems during the 1st quarter valued at approximately $472,000. Finally, Sei Investments Co. raised its stake in Advanced Drainage Systems by 20.7% in the 1st quarter. Sei Investments Co. now owns 129,613 shares of the construction company’s stock valued at $15,325,000 after purchasing an additional 22,202 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Down 0.8 %

Shares of WMS opened at $155.57 on Monday. Advanced Drainage Systems, Inc. has a 52-week low of $80.41 and a 52-week high of $176.31. The company has a market capitalization of $12.08 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.37 and a beta of 1.50. The stock has a fifty day simple moving average of $164.78 and a two-hundred day simple moving average of $139.25. The company has a quick ratio of 2.04, a current ratio of 3.03 and a debt-to-equity ratio of 1.18.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, February 8th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $632.69 million. During the same period last year, the company earned $0.99 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.09 EPS for the current year.

Advanced Drainage Systems Announces Dividend

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

Wall Street Analysts Forecast Growth

WMS has been the subject of several recent research reports. StockNews.com downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Stephens increased their price objective on Advanced Drainage Systems from $138.00 to $182.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. KeyCorp increased their price objective on Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, Oppenheimer increased their price objective on Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and an average target price of $159.13.

Insider Buying and Selling

In related news, EVP Michael G. Huebert sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the completion of the transaction, the executive vice president now directly owns 13,450 shares in the company, valued at approximately $2,199,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Michael G. Huebert sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the completion of the transaction, the executive vice president now directly owns 13,450 shares in the company, valued at approximately $2,199,344. The sale was disclosed in a document filed 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 dated Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total value of $124,351,885.00. Following the completion of the transaction, the director now owns 70,749 shares of the company’s stock, valued at approximately $11,532,087. The disclosure for this sale can be found here. Corporate insiders own 3.79% of the company’s stock.

About Advanced Drainage Systems

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.