Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Prentiss Smith & Co. Inc.

Prentiss Smith & Co. Inc. lessened its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 35.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,325 shares of the construction company’s stock after selling 3,960 shares during the period. Prentiss Smith & Co. Inc.’s holdings in Advanced Drainage Systems were worth $1,030,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. William Blair Investment Management LLC lifted its stake in shares of Advanced Drainage Systems by 13.3% in the 3rd quarter. William Blair Investment Management LLC now owns 1,445,326 shares of the construction company’s stock valued at $164,521,000 after purchasing an additional 169,517 shares during the last quarter. Cerity Partners LLC lifted its stake in Advanced Drainage Systems by 428.8% during the 4th quarter. Cerity Partners LLC now owns 22,449 shares of the construction company’s stock worth $3,157,000 after acquiring an additional 18,204 shares in the last quarter. Vanguard Group Inc. lifted its stake in Advanced Drainage Systems by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,878,726 shares of the construction company’s stock worth $783,005,000 after acquiring an additional 65,038 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Advanced Drainage Systems by 82.9% during the 4th quarter. Pacer Advisors Inc. now owns 13,990 shares of the construction company’s stock worth $1,968,000 after acquiring an additional 6,343 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its stake in Advanced Drainage Systems by 113.9% during the 3rd quarter. New York Life Investment Management LLC now owns 7,316 shares of the construction company’s stock worth $833,000 after acquiring an additional 3,896 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

WMS has been the topic of several research reports. Stephens increased their target price on Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Oppenheimer increased their target price on Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. KeyCorp increased their target price on Advanced Drainage Systems from $160.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Finally, StockNews.com downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $159.13.

Advanced Drainage Systems Stock Up 0.7 %

NYSE WMS traded up $1.13 during trading hours on Thursday, hitting $161.45. 324,442 shares of the company were exchanged, compared to its average volume of 464,373. The company has a 50 day moving average of $164.59 and a two-hundred day moving average of $140.14. The company has a quick ratio of 2.04, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. Advanced Drainage Systems, Inc. has a 52-week low of $80.41 and a 52-week high of $176.31. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 1.41 and a beta of 1.50.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.44. Advanced Drainage Systems had a return on equity of 49.79% and a net margin of 17.65%. The business had revenue of $662.37 million for the quarter, compared to the consensus estimate of $632.69 million. During the same quarter in the prior year, the business posted $0.99 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.09 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.35%. Advanced Drainage Systems’s payout ratio is currently 8.90%.

Insider Activity

In other news, EVP Michael G. Huebert sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total value of $1,635,200.00. Following the transaction, the executive vice president now owns 13,450 shares in the company, valued at approximately $2,199,344. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Ross M. Jones sold 762,895 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the transaction, the director now owns 70,749 shares in the company, valued at approximately $11,532,087. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael G. Huebert sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total value of $1,635,200.00. Following the transaction, the executive vice president now owns 13,450 shares in the company, valued at approximately $2,199,344. The disclosure for this sale can be found here. Company insiders own 3.79% of the company’s stock.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.