Advanced Drainage Systems, Inc. (WMS) Stake Lessened by Legato Capital Management LLC

Legato Capital Management LLC lowered its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 65.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,233 shares of the construction company’s stock after selling 26,665 shares during the quarter. Legato Capital Management LLC’s holdings in Advanced Drainage Systems were worth $288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its holdings in shares of Advanced Drainage Systems by 133.4% during the second quarter. BNP Paribas Arbitrage SA now owns 5,259 shares of the construction company’s stock valued at $106,000 after acquiring an additional 3,006 shares in the last quarter. Manchester Capital Management LLC increased its holdings in shares of Advanced Drainage Systems by 1.0% during the second quarter. Manchester Capital Management LLC now owns 9,770 shares of the construction company’s stock valued at $196,000 after acquiring an additional 100 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Advanced Drainage Systems by 44.8% during the second quarter. Sei Investments Co. now owns 10,347 shares of the construction company’s stock valued at $208,000 after acquiring an additional 3,199 shares in the last quarter. Gotham Asset Management LLC acquired a new position in shares of Advanced Drainage Systems during the first quarter valued at about $238,000. Finally, FMR LLC acquired a new position in shares of Advanced Drainage Systems during the second quarter valued at about $245,000. Hedge funds and other institutional investors own 78.67% of the company’s stock.

In other news, major shareholder Berkshire Partners Holdings Ll purchased 3,446,293 shares of Advanced Drainage Systems stock in a transaction that occurred on Monday, August 7th. The shares were acquired at an average price of $20.32 per share, for a total transaction of $70,028,673.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robert M. Klein sold 20,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $20.77, for a total transaction of $415,400.00. Following the sale, the executive vice president now owns 340,205 shares in the company, valued at approximately $7,066,057.85. The disclosure for this sale can be found here. 21.43% of the stock is currently owned by company insiders.

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Shares of Advanced Drainage Systems, Inc. (NYSE WMS) traded up $1.95 during midday trading on Friday, reaching $21.30. The company had a trading volume of 748,475 shares, compared to its average volume of 368,278. The company has a quick ratio of 1.02, a current ratio of 2.17 and a debt-to-equity ratio of 6.16. The stock has a market cap of $1,127.02, a PE ratio of 58.29 and a beta of 0.92.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, November 2nd. The construction company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.08). Advanced Drainage Systems had a return on equity of 48.83% and a net margin of 1.97%. The business had revenue of $401.00 million for the quarter, compared to the consensus estimate of $376.45 million. During the same period in the prior year, the business posted $0.35 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. equities analysts anticipate that Advanced Drainage Systems, Inc. will post 0.59 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.31%. Advanced Drainage Systems’s dividend payout ratio is presently 75.68%.

WMS has been the topic of several recent analyst reports. Robert W. Baird restated a “buy” rating and set a $25.00 price objective on shares of Advanced Drainage Systems in a report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “sell” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Thursday, July 13th. TheStreet downgraded shares of Advanced Drainage Systems from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th. Boenning Scattergood restated a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $24.33.

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.

Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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