Advisors Capital Management LLC Invests $4.44 Million in Advanced Drainage Systems, Inc. $WMS

Advisors Capital Management LLC bought a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 32,004 shares of the construction company’s stock, valued at approximately $4,439,000.

Other large investors also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in Advanced Drainage Systems during the 3rd quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. grew its stake in Advanced Drainage Systems by 352.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after acquiring an additional 176 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Advanced Drainage Systems during the third quarter valued at $33,000. Cullen Frost Bankers Inc. increased its holdings 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 valued at $35,000 after acquiring an additional 236 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its holdings in Advanced Drainage Systems by 341.6% in the 2nd 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 during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WMS has been the subject of a number of research reports. KeyCorp increased their price target on Advanced Drainage Systems from $180.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Robert W. Baird set a $205.00 target price on Advanced Drainage Systems in a research report on Friday, February 6th. Royal Bank Of Canada raised their target price on shares of Advanced Drainage Systems from $176.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Wednesday, January 21st. Finally, Barclays lifted their price objective on shares of Advanced Drainage Systems from $187.00 to $198.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $186.00.

Insider Buying and Selling at Advanced Drainage Systems

In related news, Director Robert M. Eversole sold 10,569 shares of the business’s stock in a transaction on 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 completion of the transaction, the director owned 50,076 shares in the company, valued at $7,652,614.32. The trade was a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.63% of the company’s stock.

Advanced Drainage Systems Trading Down 0.3%

WMS stock opened at $170.26 on Thursday. 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, Inc. has a twelve month low of $93.92 and a twelve month high of $179.32. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 2.01 and a beta of 1.34. The firm’s fifty day simple moving average is $156.07 and its two-hundred day simple moving average is $147.01.

Advanced Drainage Systems (NYSE:WMS) last released its 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. The firm had revenue of $693.35 million during the quarter, compared to analyst estimates of $686.37 million. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the business earned $1.09 EPS. As a group, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

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

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.