Envestnet Asset Management Inc. Sells 4,654 Shares of Advanced Drainage Systems, Inc. $WMS

Envestnet Asset Management Inc. trimmed its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,051 shares of the construction company’s stock after selling 4,654 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.13% of Advanced Drainage Systems worth $14,154,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WMS. Northwestern Mutual Wealth Management Co. raised its position in shares of Advanced Drainage Systems by 352.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after buying an additional 176 shares in the last quarter. Mather Group LLC. purchased a new position in Advanced Drainage Systems in the 3rd quarter worth approximately $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Advanced Drainage Systems during the third quarter worth about $33,000. Cullen Frost Bankers Inc. grew its position in shares of 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 buying an additional 236 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Advanced Drainage Systems by 341.6% in the second quarter. Creative Financial Designs Inc. ADV now owns 658 shares of the construction company’s stock valued at $76,000 after acquiring an additional 509 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Insider Activity

In other Advanced Drainage Systems news, Director Robert M. Eversole sold 10,569 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $152.82, for a total transaction of $1,615,154.58. Following the sale, the director owned 50,076 shares in the company, valued at $7,652,614.32. This represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.63% of the company’s stock.

Advanced Drainage Systems Trading Up 1.9%

Shares of WMS stock opened at $170.99 on Tuesday. The firm has a fifty day moving average of $155.14 and a 200-day moving average of $146.45. Advanced Drainage Systems, Inc. has a 52-week low of $93.92 and a 52-week high of $179.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 3.08 and a current ratio of 4.12. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 2.02 and a beta of 1.34.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.16. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The firm had revenue of $693.35 million during the quarter, compared to analyst estimates of $686.37 million. During the same quarter in the previous year, the firm earned $1.09 EPS. Advanced Drainage Systems’s quarterly revenue was up .4% compared to the same quarter last year. On average, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WMS shares. Robert W. Baird set a $205.00 price target on Advanced Drainage Systems in a report on Friday, February 6th. Royal Bank Of Canada boosted their price objective on shares of Advanced Drainage Systems from $176.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. UBS Group set a $215.00 target price on shares of Advanced Drainage Systems and gave the company a “buy” rating in a research note on Friday, February 6th. Oppenheimer lifted their price target on shares of Advanced Drainage Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Wednesday, January 21st. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $186.00.

Advanced Drainage Systems 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.