Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Advanced Drainage Systems, Inc. (NYSE:WMS – Free Report) by 44.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,487 shares of the construction company’s stock after selling 44,771 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Advanced Drainage Systems worth $4,673,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. New York State Teachers Retirement System acquired a new stake in shares of Advanced Drainage Systems in the 4th quarter valued at approximately $467,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of Advanced Drainage Systems in the 1st quarter valued at approximately $1,537,000. Tortoise Capital Advisors L.L.C. raised its position in shares of Advanced Drainage Systems by 10.7% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 9,547 shares of the construction company’s stock valued at $783,000 after acquiring an additional 923 shares during the period. Yousif Capital Management LLC acquired a new stake in shares of Advanced Drainage Systems in the 1st quarter valued at approximately $2,686,000. Finally, Credit Suisse AG raised its position in shares of Advanced Drainage Systems by 43.0% in the 4th quarter. Credit Suisse AG now owns 182,714 shares of the construction company’s stock valued at $14,977,000 after acquiring an additional 54,969 shares during the period. 82.94% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Advanced Drainage Systems
In other Advanced Drainage Systems news, EVP Darin S. Harvey sold 3,323 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $134.52, for a total transaction of $447,009.96. Following the completion of the sale, the executive vice president now owns 4,171 shares of the company’s stock, valued at approximately $561,082.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Advanced Drainage Systems news, insider Tim A. Makowski sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $109.25, for a total transaction of $327,750.00. Following the completion of the sale, the insider now owns 8,647 shares of the company’s stock, valued at approximately $944,684.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Darin S. Harvey sold 3,323 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $134.52, for a total value of $447,009.96. Following the sale, the executive vice president now directly owns 4,171 shares of the company’s stock, valued at approximately $561,082.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,598 shares of company stock valued at $3,625,505. 3.79% of the stock is owned by corporate insiders.
Advanced Drainage Systems Price Performance
Advanced Drainage Systems (NYSE:WMS – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.51. Advanced Drainage Systems had a net margin of 16.82% and a return on equity of 50.53%. The company had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $746.08 million. During the same period last year, the business earned $2.22 EPS. The business’s quarterly revenue was down 14.9% on a year-over-year basis. As a group, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 5.67 EPS for the current fiscal year.
Advanced Drainage Systems Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.14 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.56 annualized dividend and a dividend yield of 0.43%. Advanced Drainage Systems’s dividend payout ratio is presently 9.29%.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of Advanced Drainage Systems from $114.00 to $133.00 and gave the company an “equal weight” rating in a research report on Friday, August 4th. StockNews.com initiated coverage on Advanced Drainage Systems in a research note on Thursday, May 18th. They set a “hold” rating for the company. Loop Capital increased their target price on Advanced Drainage Systems from $115.00 to $120.00 in a research note on Monday, May 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Advanced Drainage Systems from $131.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Barclays increased their target price on Advanced Drainage Systems from $138.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.71.
Check Out Our Latest Stock Analysis on WMS
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.
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