Northcape Capital Pty Ltd Reduces Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Northcape Capital Pty Ltd lessened its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 6.0% in the 4th quarter, HoldingsChannel reports. The firm owned 6,481 shares of the construction company’s stock after selling 416 shares during the quarter. Advanced Drainage Systems makes up approximately 0.1% of Northcape Capital Pty Ltd’s holdings, making the stock its 26th largest holding. Northcape Capital Pty Ltd’s holdings in Advanced Drainage Systems were worth $911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. acquired a new stake in Advanced Drainage Systems during the 4th quarter worth about $27,000. NBC Securities Inc. purchased a new stake in Advanced Drainage Systems in the 3rd quarter worth approximately $25,000. Quadrant Capital Group LLC grew its stake in shares of Advanced Drainage Systems by 420.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 302 shares of the construction company’s stock worth $34,000 after purchasing an additional 244 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Advanced Drainage Systems during the 2nd quarter valued at approximately $33,000. Finally, Belpointe Asset Management LLC increased its holdings in shares of Advanced Drainage Systems by 47.8% during the 1st quarter. Belpointe Asset Management LLC now owns 495 shares of the construction company’s stock valued at $42,000 after purchasing an additional 160 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Price Performance

Shares of Advanced Drainage Systems stock traded up $2.24 during mid-day trading on Thursday, reaching $173.68. 92,615 shares of the stock traded hands, compared to its average volume of 486,476. The stock has a market capitalization of $13.48 billion, a PE ratio of 27.51, a PEG ratio of 2.12 and a beta of 1.50. The business has a 50-day moving average of $154.76 and a 200 day moving average of $133.26. Advanced Drainage Systems, Inc. has a fifty-two week low of $75.76 and a fifty-two week high of $176.31. 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 (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. The company had revenue of $662.37 million during the quarter, compared to the consensus estimate of $632.69 million. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. Advanced Drainage Systems’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, analysts predict that Advanced Drainage Systems, Inc. will post 6.07 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Thursday, February 29th. Advanced Drainage Systems’s dividend payout ratio (DPR) is 8.90%.

Insider Buying and Selling

In other Advanced Drainage Systems news, EVP Michael G. Huebert sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total value of $1,635,200.00. Following the sale, the executive vice president now directly owns 13,450 shares of the company’s stock, valued at approximately $2,199,344. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Ross M. Jones sold 762,895 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 70,749 shares of the company’s stock, valued at $11,532,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael G. Huebert sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total value of $1,635,200.00. Following the sale, the executive vice president now directly owns 13,450 shares of the company’s stock, valued at $2,199,344. The disclosure for this sale can be found here. 3.79% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Stephens raised their price target on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. KeyCorp raised their target price on Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. StockNews.com raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Saturday, March 16th. Finally, Barclays raised their price objective on Advanced Drainage Systems from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.13.

About Advanced Drainage Systems

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.