Chesapeake Capital Corp IL Acquires Shares of 7,058 Advanced Drainage Systems, Inc. (NYSE:WMS)

Chesapeake Capital Corp IL acquired a new stake in Advanced Drainage Systems, Inc. (NYSE:WMSFree Report) during the fourth quarter, HoldingsChannel reports. The fund acquired 7,058 shares of the construction company’s stock, valued at approximately $993,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new position in Advanced Drainage Systems in the 4th quarter valued at $27,000. GAMMA Investing LLC acquired a new stake in shares of Advanced Drainage Systems during the 4th quarter worth $28,000. NBC Securities Inc. acquired a new stake in shares of Advanced Drainage Systems during the 3rd quarter worth $25,000. Avalon Trust Co acquired a new stake in shares of Advanced Drainage Systems during the 4th quarter worth $38,000. Finally, ORG Partners LLC acquired a new stake in shares of Advanced Drainage Systems during the 4th quarter worth $60,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WMS. Robert W. Baird increased their target price on Advanced Drainage Systems from $192.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. KeyCorp increased their target price on Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Stephens increased their target price on Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. StockNews.com raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, Northcoast Research started coverage on Advanced Drainage Systems in a research note on Wednesday, May 8th. They issued a “buy” rating and a $190.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.88.

Read Our Latest Stock Analysis on WMS

Insider Transactions at Advanced Drainage Systems

In other Advanced Drainage Systems news, Director Ross M. Jones sold 762,895 shares of Advanced Drainage Systems stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total value of $124,351,885.00. Following the completion of the sale, the director now directly owns 70,749 shares in the company, valued at $11,532,087. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Michael G. Huebert sold 10,000 shares of the business’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 transaction of $1,635,200.00. Following the completion of the sale, the executive vice president now owns 13,450 shares in the company, valued at $2,199,344. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ross M. Jones sold 762,895 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total value of $124,351,885.00. Following the sale, the director now owns 70,749 shares of the company’s stock, valued at approximately $11,532,087. The disclosure for this sale can be found here. 3.79% of the stock is owned by corporate insiders.

Advanced Drainage Systems Trading Down 0.4 %

Shares of WMS stock traded down $0.64 during mid-day trading on Friday, reaching $174.30. 443,477 shares of the stock traded hands, compared to its average volume of 456,101. The stock’s fifty day simple moving average is $167.52 and its two-hundred day simple moving average is $149.13. Advanced Drainage Systems, Inc. has a 1-year low of $94.68 and a 1-year high of $184.27. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 1.52 and a beta of 1.51. The company has a quick ratio of 1.90, a current ratio of 2.96 and a debt-to-equity ratio of 1.13.

Advanced Drainage Systems (NYSE:WMSGet Free Report) last announced its quarterly earnings results on Thursday, May 16th. The construction company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.28. Advanced Drainage Systems had a return on equity of 46.93% and a net margin of 17.74%. The firm had revenue of $653.80 million for the quarter, compared to analyst estimates of $611.99 million. During the same period last year, the firm posted $1.06 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.75 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.37%. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, May 31st. Advanced Drainage Systems’s dividend payout ratio (DPR) is 8.70%.

Advanced Drainage Systems Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding WMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Drainage Systems, Inc. (NYSE:WMSFree Report).

Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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