According to Zacks, “Advanced Drainage Systems, Inc. is a manufacturer of thermoplastic corrugated pipe, providing a comprehensive suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising PVC drainage structures, fittings and filters, and water quality filters and separators. Its products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications. Advanced Drainage Systems, Inc. is headquartered in Hilliard, Ohio. “
A number of other research firms have also commented on WMS. Robert W. Baird set a $68.00 price target on Advanced Drainage Systems and gave the stock a hold rating in a research report on Friday, October 18th. Bank of America initiated coverage on Advanced Drainage Systems in a report on Tuesday, December 3rd. They set a buy rating and a $46.00 price objective on the stock. Finally, ValuEngine lowered Advanced Drainage Systems from a buy rating to a hold rating in a research report on Wednesday, September 4th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $42.80.
Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, November 7th. The construction company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.41). Advanced Drainage Systems had a positive return on equity of 18.28% and a negative net margin of 13.50%. The business had revenue of $495.90 million for the quarter, compared to the consensus estimate of $473.84 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The business’s revenue was up 22.0% on a year-over-year basis. On average, equities research analysts expect that Advanced Drainage Systems will post -2.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. Advanced Drainage Systems’s payout ratio is 29.51%.
In related news, SVP Ewout Leeuwenburg sold 5,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $36.88, for a total transaction of $184,400.00. Following the completion of the transaction, the senior vice president now directly owns 59,210 shares in the company, valued at $2,183,664.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alexander R. Fischer sold 10,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $36.68, for a total value of $366,800.00. Following the transaction, the director now owns 29,709 shares of the company’s stock, valued at $1,089,726.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 2,462,193 shares of company stock worth $73,912,528 and have sold 1,057,000 shares worth $39,528,500. Company insiders own 20.84% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new position in shares of Advanced Drainage Systems during the 3rd quarter worth approximately $20,693,000. Cramer Rosenthal Mcglynn LLC bought a new position in Advanced Drainage Systems in the second quarter valued at $16,443,000. MIG Capital LLC grew its position in Advanced Drainage Systems by 75.7% in the second quarter. MIG Capital LLC now owns 1,000,180 shares of the construction company’s stock valued at $32,796,000 after purchasing an additional 430,987 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in Advanced Drainage Systems in the 2nd quarter valued at $12,363,000. Finally, Pictet Asset Management Ltd. increased its stake in Advanced Drainage Systems by 25.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,543,761 shares of the construction company’s stock valued at $49,817,000 after buying an additional 312,472 shares during the last quarter. 81.21% of the stock is owned by hedge funds and other institutional investors.
Advanced Drainage Systems Company Profile
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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