Edgestream Partners L.P. Reduces Stock Position in Advanced Drainage Systems, Inc. $WMS

Edgestream Partners L.P. trimmed its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 92.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,717 shares of the construction company’s stock after selling 47,685 shares during the period. Edgestream Partners L.P.’s holdings in Advanced Drainage Systems were worth $427,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. BLI Banque de Luxembourg Investments raised its holdings in Advanced Drainage Systems by 11.9% in the second quarter. BLI Banque de Luxembourg Investments now owns 35,800 shares of the construction company’s stock valued at $4,151,000 after acquiring an additional 3,800 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Advanced Drainage Systems by 123.8% during the 2nd quarter. Mackenzie Financial Corp now owns 210,782 shares of the construction company’s stock worth $24,210,000 after acquiring an additional 116,594 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of Advanced Drainage Systems by 50.4% in the 2nd quarter. Loomis Sayles & Co. L P now owns 108,502 shares of the construction company’s stock worth $12,463,000 after purchasing an additional 36,367 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Advanced Drainage Systems by 8.2% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 9,654 shares of the construction company’s stock worth $1,109,000 after purchasing an additional 735 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Advanced Drainage Systems in the 2nd quarter valued at about $90,989,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Down 0.9%

Shares of Advanced Drainage Systems stock opened at $148.71 on Monday. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.91 and a beta of 1.36. Advanced Drainage Systems, Inc. has a twelve month low of $93.92 and a twelve month high of $155.39. The company has a current ratio of 3.48, a quick ratio of 2.60 and a debt-to-equity ratio of 0.75. The business’s 50 day simple moving average is $143.65 and its 200-day simple moving average is $132.11.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.27. The business had revenue of $850.38 million during the quarter, compared to analyst estimates of $802.49 million. Advanced Drainage Systems had a return on equity of 28.85% and a net margin of 15.35%.The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.70 EPS. Equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.18 per share. The ex-dividend date is Monday, December 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio is currently 12.29%.

Wall Street Analyst Weigh In

WMS has been the subject of a number of research reports. Royal Bank Of Canada lifted their price target on Advanced Drainage Systems from $158.00 to $168.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Barclays increased their target price on Advanced Drainage Systems from $160.00 to $176.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. KeyCorp boosted their price target on Advanced Drainage Systems from $159.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and an average price target of $156.56.

Insider Activity

In other Advanced Drainage Systems news, Director Robert M. Eversole sold 10,569 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $152.82, for a total transaction of $1,615,154.58. Following the completion of the transaction, the director directly owned 50,076 shares of the company’s stock, valued at $7,652,614.32. The trade was a 17.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tim A. Makowski sold 4,901 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $149.21, for a total transaction of $731,278.21. Following the completion of the transaction, the insider owned 2,467 shares of the company’s stock, valued at approximately $368,101.07. This trade represents a 66.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 97,772 shares of company stock worth $14,605,539 over the last ninety days. Insiders own 1.63% 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 in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.