Campbell & CO Investment Adviser LLC acquired a new stake in shares of Advanced Drainage Systems Inc (NYSE:WMS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,876 shares of the construction company’s stock, valued at approximately $367,000.
Several other hedge funds also recently added to or reduced their stakes in WMS. USA Financial Portformulas Corp purchased a new position in Advanced Drainage Systems during the third quarter valued at $42,000. Advisor Group Holdings Inc. bought a new position in shares of Advanced Drainage Systems during the 1st quarter valued at about $68,000. Macquarie Group Ltd. purchased a new position in shares of Advanced Drainage Systems during the second quarter valued at about $98,000. Royal Bank of Canada grew its position in shares of Advanced Drainage Systems by 10.1% during the first quarter. Royal Bank of Canada now owns 4,636 shares of the construction company’s stock valued at $136,000 after purchasing an additional 425 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of Advanced Drainage Systems by 157.1% in the second quarter. Strs Ohio now owns 3,600 shares of the construction company’s stock worth $177,000 after purchasing an additional 2,200 shares during the last quarter. 84.14% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on WMS shares. Morgan Stanley raised their price target on Advanced Drainage Systems from $45.00 to $49.00 and gave the company an “underweight” rating in a report on Friday, September 25th. Loop Capital boosted their price target on shares of Advanced Drainage Systems from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. They noted that the move was a valuation call. Barclays increased their price objective on shares of Advanced Drainage Systems from $64.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Advanced Drainage Systems from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective for the company in a research note on Friday, August 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Advanced Drainage Systems currently has an average rating of “Buy” and an average price target of $59.83.
In other Advanced Drainage Systems news, insider Tim A. Makowski sold 7,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $59.37, for a total value of $415,590.00. Following the sale, the insider now owns 12,074 shares in the company, valued at $716,833.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert M. Klein sold 75,000 shares of Advanced Drainage Systems stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $55.23, for a total value of $4,142,250.00. Following the sale, the executive vice president now owns 143,165 shares of the company’s stock, valued at $7,907,002.95. The disclosure for this sale can be found here. Insiders sold a total of 122,000 shares of company stock worth $6,874,640 over the last three months. 20.74% of the stock is currently owned by corporate insiders.
Shares of WMS opened at $70.92 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.82 and a debt-to-equity ratio of 1.81. The business has a fifty day moving average of $60.53 and a 200 day moving average of $48.69. The company has a market cap of $4.93 billion, a PE ratio of 58.13, a P/E/G ratio of 0.50 and a beta of 1.50. Advanced Drainage Systems Inc has a 52-week low of $22.13 and a 52-week high of $72.51.
Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, August 6th. The construction company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.18. Advanced Drainage Systems had a net margin of 5.71% and a return on equity of 19.10%. The business had revenue of $508.60 million for the quarter, compared to the consensus estimate of $492.59 million. During the same quarter in the prior year, the firm posted ($4.06) earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, research analysts anticipate that Advanced Drainage Systems Inc will post 2.43 earnings per share for the current fiscal year.
Advanced Drainage Systems Company Profile
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.
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