MARSHALL WACE ASIA Ltd Invests $4.80 Million in Advanced Drainage Systems, Inc. (WMS)
MARSHALL WACE ASIA Ltd bought a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the first quarter, Holdings Channel reports. The institutional investor bought 218,240 shares of the construction company’s stock, valued at approximately $4,801,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. Torch Wealth Management LLC increased its stake in Advanced Drainage Systems by 1.7% in the first quarter. Torch Wealth Management LLC now owns 18,480 shares of the construction company’s stock worth $405,000 after buying an additional 300 shares in the last quarter. Daiwa SB Investments Ltd. bought a new stake in Advanced Drainage Systems during the first quarter worth about $747,000. Highbridge Capital Management LLC bought a new stake in Advanced Drainage Systems during the fourth quarter worth about $278,000. Teachers Advisors LLC increased its stake in Advanced Drainage Systems by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 70,145 shares of the construction company’s stock worth $1,445,000 after buying an additional 4,305 shares in the last quarter. Finally, Norges Bank bought a new stake in Advanced Drainage Systems during the fourth quarter worth about $11,558,000. 79.55% of the stock is currently owned by institutional investors and hedge funds.
Advanced Drainage Systems, Inc. (NYSE WMS) traded up 1.73% during trading on Monday, reaching $20.60. The company had a trading volume of 65,353 shares. Advanced Drainage Systems, Inc. has a one year low of $18.60 and a one year high of $28.49. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 41.20 and a beta of 0.93. The company has a 50-day moving average price of $21.33 and a 200 day moving average price of $21.99.
Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, May 25th. The construction company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.14. The business had revenue of $244.20 million during the quarter, compared to analyst estimates of $228.82 million. Advanced Drainage Systems had a return on equity of 102.23% and a net margin of 3.05%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. Analysts expect that Advanced Drainage Systems, Inc. will post $1.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Monday, June 5th were paid a $0.07 dividend. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, June 1st. This represents a $0.28 annualized dividend and a yield of 1.35%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 50.00%.
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A number of analysts recently issued reports on WMS shares. Royal Bank Of Canada reiterated a “hold” rating and set a $25.00 price target on shares of Advanced Drainage Systems in a report on Monday, April 24th. Zacks Investment Research upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, May 25th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $27.00.
In other news, CEO Joseph A. Chlapaty acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was purchased at an average price of $19.39 per share, for a total transaction of $581,700.00. Following the purchase, the chief executive officer now owns 227,786 shares in the company, valued at approximately $4,416,770.54. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Joseph A. Chlapaty acquired 10,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was purchased at an average price of $20.28 per share, with a total value of $202,800.00. Following the purchase, the chairman now owns 227,786 shares in the company, valued at approximately $4,619,500.08. The disclosure for this purchase can be found here. Company insiders own 21.43% of the company’s stock.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.
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