Paloma Partners Management Co Acquires Shares of 14,582 Advanced Drainage Systems Inc (WMS)
Paloma Partners Management Co acquired a new stake in Advanced Drainage Systems Inc (NYSE:WMS) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 14,582 shares of the construction company’s stock, valued at approximately $416,000.
Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Advanced Drainage Systems in the second quarter valued at approximately $101,000. Hsbc Holdings PLC bought a new position in Advanced Drainage Systems in the first quarter valued at approximately $207,000. Valeo Financial Advisors LLC bought a new position in Advanced Drainage Systems in the second quarter valued at approximately $338,000. Manchester Capital Management LLC increased its stake in Advanced Drainage Systems by 84.3% in the second quarter. Manchester Capital Management LLC now owns 12,570 shares of the construction company’s stock valued at $359,000 after acquiring an additional 5,750 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in Advanced Drainage Systems in the first quarter valued at approximately $410,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on WMS. Boenning Scattergood reissued a “hold” rating on shares of Advanced Drainage Systems in a research note on Thursday, August 9th. Barclays lifted their price objective on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, August 13th. ValuEngine raised shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Zacks Investment Research raised shares of Advanced Drainage Systems from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, June 5th. Finally, Citigroup raised their target price on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 23rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $32.25.
Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, August 9th. The construction company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.11. Advanced Drainage Systems had a net margin of 5.43% and a return on equity of 47.60%. The firm had revenue of $387.85 million for the quarter, compared to analyst estimates of $382.67 million. During the same quarter last year, the business posted $0.28 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. equities analysts anticipate that Advanced Drainage Systems Inc will post 1.1 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were given a $0.08 dividend. The ex-dividend date was Thursday, August 30th. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. Advanced Drainage Systems’s dividend payout ratio is currently 39.51%.
In other Advanced Drainage Systems news, SVP Ewout Leeuwenburg sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $31.42, for a total value of $942,600.00. Following the sale, the senior vice president now owns 73,062 shares in the company, valued at $2,295,608.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Berkshire Partners Holdings Ll bought 1,500,000 shares of the business’s stock in a transaction on Tuesday, August 28th. The stock was bought at an average price of $30.08 per share, for a total transaction of $45,120,000.00. Following the transaction, the insider now directly owns 745,556 shares of the company’s stock, valued at $22,426,324.48. The disclosure for this purchase can be found here. Company insiders own 20.97% of the company’s stock.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.
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