Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,215 shares of the construction company’s stock after selling 101 shares during the period. New York Life Investment Management LLC’s holdings in Advanced Drainage Systems were worth $1,015,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WMS. Raymond James & Associates increased its holdings in shares of Advanced Drainage Systems by 0.8% in the 3rd quarter. Raymond James & Associates now owns 35,806 shares of the construction company’s stock valued at $4,076,000 after acquiring an additional 295 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Advanced Drainage Systems by 3.1% during the third quarter. Bank of New York Mellon Corp now owns 692,211 shares of the construction company’s stock valued at $78,794,000 after purchasing an additional 20,947 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of Advanced Drainage Systems by 94.9% during the third quarter. New York State Teachers Retirement System now owns 43,966 shares of the construction company’s stock worth $5,005,000 after purchasing an additional 21,413 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Advanced Drainage Systems by 11.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,740 shares of the construction company’s stock valued at $9,987,000 after buying an additional 8,775 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Advanced Drainage Systems by 8.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 446,694 shares of the construction company’s stock valued at $50,847,000 after buying an additional 35,868 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

WMS has been the topic of a number of recent research reports. KeyCorp raised their target price on shares of Advanced Drainage Systems from $160.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Oppenheimer boosted their price objective on Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. StockNews.com raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, Stephens boosted their price target on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the company an “overweight” rating in a report on Friday, February 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.13.

Advanced Drainage Systems Stock Down 0.8 %

Shares of Advanced Drainage Systems stock opened at $168.05 on Wednesday. Advanced Drainage Systems, Inc. has a 1-year low of $84.71 and a 1-year high of $176.31. The company has a market capitalization of $13.04 billion, a P/E ratio of 26.72, a PEG ratio of 1.49 and a beta of 1.51. The business’s fifty day moving average price is $164.67 and its two-hundred day moving average price is $143.11. 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 posted its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.44. The business had revenue of $662.37 million during the quarter, compared to the consensus estimate of $632.69 million. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.99 earnings per share. As a group, research analysts forecast that Advanced Drainage Systems, Inc. will post 6.09 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.33%. Advanced Drainage Systems’s dividend payout ratio is presently 8.90%.

Insider Activity at Advanced Drainage Systems

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

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.