AIA Group Ltd Increases Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

AIA Group Ltd boosted its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,768 shares of the construction company’s stock after purchasing an additional 275 shares during the quarter. AIA Group Ltd’s holdings in Advanced Drainage Systems were worth $5,312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. increased its position in shares of Advanced Drainage Systems by 8.7% during the fourth quarter. Federated Hermes Inc. now owns 340,457 shares of the construction company’s stock valued at $47,882,000 after acquiring an additional 27,272 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Advanced Drainage Systems by 10.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,493 shares of the construction company’s stock valued at $13,571,000 after acquiring an additional 8,753 shares in the last quarter. Strs Ohio bought a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at approximately $1,012,000. Louisiana State Employees Retirement System bought a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at approximately $2,714,000. Finally, ORG Partners LLC bought a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at approximately $60,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Insider Transactions at Advanced Drainage Systems

In other news, 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 completion of the sale, the executive vice president now owns 13,450 shares of the company’s stock, valued at approximately $2,199,344. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 transaction of $1,635,200.00. Following the completion of the sale, the executive vice president now owns 13,450 shares of the company’s stock, valued at $2,199,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ross M. Jones sold 762,895 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the sale, the director now directly owns 70,749 shares of the company’s stock, valued at approximately $11,532,087. The disclosure for this sale can be found here. Corporate insiders own 3.79% of the company’s stock.

Advanced Drainage Systems Price Performance

Shares of Advanced Drainage Systems stock traded down $0.28 during trading hours on Thursday, reaching $156.63. The company’s stock had a trading volume of 258,457 shares, compared to its average volume of 467,819. The stock has a market cap of $12.16 billion, a P/E ratio of 24.94, a P/E/G ratio of 1.41 and a beta of 1.50. Advanced Drainage Systems, Inc. has a one year low of $80.41 and a one year high of $176.31. The firm has a 50 day moving average price of $164.93 and a 200-day moving average price of $138.47. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 2.04.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.44. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The company had revenue of $662.37 million during the quarter, compared to analysts’ expectations of $632.69 million. During the same period in the previous year, the company earned $0.99 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts predict that Advanced Drainage Systems, Inc. will post 6.07 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.14 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.56 annualized dividend and a dividend yield of 0.36%. Advanced Drainage Systems’s payout ratio is presently 8.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WMS shares. Stephens lifted their target price on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Oppenheimer lifted their target price on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Finally, KeyCorp lifted their target price on shares of Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and an average target price of $159.13.

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.