Advanced Drainage Systems, Inc. (WMS) Trading 8.4% Higher Following Insider Buying Activity

Advanced Drainage Systems, Inc. (NYSE:WMS)’s share price traded up 8.4% on Tuesday following insider buying activity. The company traded as high as $22.65 and last traded at $22.50, with a volume of 931,388 shares traded. The stock had previously closed at $20.75.

Specifically, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of the company’s stock in a transaction on Monday, August 7th. The stock was bought at an average price of $20.32 per share, for a total transaction of $70,028,673.76. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph A. Chlapaty bought 30,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were acquired at an average price of $19.39 per share, with a total value of $581,700.00. Following the transaction, the chief executive officer now directly owns 227,786 shares in the company, valued at approximately $4,416,770.54. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 3,486,293 shares of company stock worth $70,813,174. Company insiders own 21.43% of the company’s stock.

A number of analysts recently commented on WMS shares. Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “sell” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Thursday, July 13th. Royal Bank Of Canada restated a “hold” rating and issued a $25.00 price objective on shares of Advanced Drainage Systems in a research report on Monday, April 24th. BidaskClub upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Boenning Scattergood restated a “hold” rating on shares of Advanced Drainage Systems in a research report on Thursday, May 25th. Finally, ValuEngine cut shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.33.

The company has a market capitalization of $1.10 billion, a PE ratio of 40.26 and a beta of 0.92. The firm has a 50-day moving average price of $20.23 and a 200 day moving average price of $21.52.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by $0.06. The business had revenue of $358.36 million for the quarter, compared to the consensus estimate of $372.63 million. Advanced Drainage Systems had a return on equity of 62.10% and a net margin of 2.50%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 earnings per share. On average, equities research analysts predict that Advanced Drainage Systems, Inc. will post $1.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Wednesday, August 30th. Advanced Drainage Systems’s payout ratio is presently 60.87%.

Several large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in Advanced Drainage Systems by 44.2% in the first quarter. Ameriprise Financial Inc. now owns 90,740 shares of the construction company’s stock valued at $1,987,000 after buying an additional 27,827 shares during the last quarter. Sei Investments Co. acquired a new stake in Advanced Drainage Systems during the first quarter valued at approximately $157,000. Swiss National Bank increased its stake in Advanced Drainage Systems by 3.4% in the first quarter. Swiss National Bank now owns 67,200 shares of the construction company’s stock valued at $1,472,000 after buying an additional 2,200 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in Advanced Drainage Systems by 8.5% in the first quarter. Pictet Asset Management Ltd. now owns 2,668,262 shares of the construction company’s stock valued at $58,435,000 after buying an additional 208,674 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Advanced Drainage Systems by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 299,989 shares of the construction company’s stock valued at $6,569,000 after buying an additional 10,730 shares during the last quarter. 81.25% of the stock is owned by institutional investors.

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Advanced Drainage Systems Company Profile

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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