Bridges Investment Management Inc. Has $3.90 Million Holdings in Advanced Drainage Systems, Inc. $WMS

Bridges Investment Management Inc. raised its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 32.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,122 shares of the construction company’s stock after buying an additional 6,960 shares during the quarter. Bridges Investment Management Inc.’s holdings in Advanced Drainage Systems were worth $3,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Truist Financial Corp acquired a new stake in shares of Advanced Drainage Systems in the 2nd quarter valued at approximately $211,000. Valeo Financial Advisors LLC raised its holdings in Advanced Drainage Systems by 134.8% in the second quarter. Valeo Financial Advisors LLC now owns 5,275 shares of the construction company’s stock worth $606,000 after purchasing an additional 3,028 shares during the period. KLP Kapitalforvaltning AS boosted its position in shares of Advanced Drainage Systems by 3.3% during the second quarter. KLP Kapitalforvaltning AS now owns 15,500 shares of the construction company’s stock worth $1,780,000 after purchasing an additional 500 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Advanced Drainage Systems by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the construction company’s stock valued at $2,286,000 after buying an additional 100 shares in the last quarter. Finally, Mirova US LLC raised its stake in Advanced Drainage Systems by 2.6% during the 2nd quarter. Mirova US LLC now owns 708,310 shares of the construction company’s stock worth $81,356,000 after buying an additional 17,875 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Advanced Drainage Systems news, insider D. Scott Barbour sold 80,030 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $148.95, for a total value of $11,920,468.50. Following the completion of the transaction, the insider directly owned 42,867 shares in the company, valued at approximately $6,385,039.65. This represents a 65.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert M. Eversole sold 10,569 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $152.82, for a total value of $1,615,154.58. Following the transaction, the director owned 50,076 shares of the company’s stock, valued at $7,652,614.32. This trade represents a 17.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 97,772 shares of company stock worth $14,605,539 over the last 90 days. Corporate insiders own 1.63% of the company’s stock.

Analyst Upgrades and Downgrades

WMS has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Wednesday, January 21st. KeyCorp lifted their price target on shares of Advanced Drainage Systems from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Royal Bank Of Canada restated an “outperform” rating and set a $176.00 price objective on shares of Advanced Drainage Systems in a report on Thursday, January 15th. Oppenheimer increased their target price on Advanced Drainage Systems from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, January 15th. Finally, UBS Group boosted their price target on Advanced Drainage Systems from $183.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.33.

Advanced Drainage Systems Stock Performance

Shares of NYSE WMS opened at $152.13 on Monday. 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 company has a market capitalization of $11.83 billion, a P/E ratio of 25.96, a P/E/G ratio of 1.98 and a beta of 1.34. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $160.85. The stock has a 50 day moving average of $151.41 and a 200-day moving average of $142.38.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, November 6th. The construction company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.27. The business had revenue of $850.38 million for the quarter, compared to analyst estimates of $802.49 million. Advanced Drainage Systems had a net margin of 15.35% and a return on equity of 28.85%. Advanced Drainage Systems’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.70 EPS. As a group, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.18 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 12.29%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.