Truist Financial Corp Purchases 3,039 Shares of Advanced Drainage Systems, Inc. $WMS

Truist Financial Corp boosted its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 165.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,880 shares of the construction company’s stock after acquiring an additional 3,039 shares during the period. Truist Financial Corp’s holdings in Advanced Drainage Systems were worth $677,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mather Group LLC. bought a new position in Advanced Drainage Systems during the third quarter worth $28,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Advanced Drainage Systems by 352.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after purchasing an additional 176 shares during the period. Cullen Frost Bankers Inc. grew its position in Advanced Drainage Systems by 1,242.1% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 255 shares of the construction company’s stock worth $35,000 after purchasing an additional 236 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Advanced Drainage Systems by 341.6% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 658 shares of the construction company’s stock worth $76,000 after purchasing an additional 509 shares during the period. Finally, CWM LLC increased its holdings in shares of Advanced Drainage Systems by 16.2% during the 3rd quarter. CWM LLC now owns 702 shares of the construction company’s stock worth $97,000 after purchasing an additional 98 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Trading Up 1.3%

Shares of Advanced Drainage Systems stock opened at $174.96 on Wednesday. Advanced Drainage Systems, Inc. has a 12-month low of $93.92 and a 12-month high of $178.41. The stock has a market capitalization of $13.63 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 2.04 and a beta of 1.34. The company has a 50-day simple moving average of $153.47 and a 200 day simple moving average of $144.94. The company has a quick ratio of 3.08, a current ratio of 4.12 and a debt-to-equity ratio of 0.72.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, February 5th. The construction company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.16. The firm had revenue of $693.35 million for the quarter, compared to analysts’ expectations of $686.37 million. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 earnings per share. Research analysts expect that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.18 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.72 annualized dividend and a yield of 0.4%. Advanced Drainage Systems’s dividend payout ratio is 11.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Wednesday, January 21st. Robert W. Baird set a $205.00 price target on Advanced Drainage Systems in a report on Friday. Royal Bank Of Canada lifted their price objective on Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday. Barclays boosted their price objective on Advanced Drainage Systems from $187.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday. Finally, UBS Group set a $215.00 target price on Advanced Drainage Systems and gave the stock a “buy” rating in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $186.00.

Insider Buying and Selling

In other Advanced Drainage Systems news, Director Robert M. Eversole sold 10,569 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $152.82, for a total value of $1,615,154.58. Following the completion of the sale, the director owned 50,076 shares in the company, valued at approximately $7,652,614.32. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.63% of the stock is currently owned by corporate insiders.

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.