Headlands Technologies LLC Trims Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Headlands Technologies LLC reduced its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 59.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291 shares of the construction company’s stock after selling 429 shares during the period. Headlands Technologies LLC’s holdings in Advanced Drainage Systems were worth $41,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Truist Financial Corp purchased a new position in shares of Advanced Drainage Systems during the 4th quarter valued at $212,000. Yousif Capital Management LLC grew its position in shares of Advanced Drainage Systems by 0.4% during the 4th quarter. Yousif Capital Management LLC now owns 32,367 shares of the construction company’s stock valued at $4,552,000 after purchasing an additional 134 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Advanced Drainage Systems during the 4th quarter valued at $28,000. California Public Employees Retirement System grew its position in shares of Advanced Drainage Systems by 4.0% during the 4th quarter. California Public Employees Retirement System now owns 127,328 shares of the construction company’s stock valued at $17,907,000 after purchasing an additional 4,859 shares in the last quarter. Finally, Duality Advisers LP grew its position in shares of Advanced Drainage Systems by 69.1% during the 4th quarter. Duality Advisers LP now owns 6,060 shares of the construction company’s stock valued at $852,000 after purchasing an additional 2,477 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ross M. Jones sold 762,895 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 70,749 shares in the company, valued at $11,532,087. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Ross M. Jones sold 762,895 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 70,749 shares in the company, valued at $11,532,087. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael G. Huebert sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the sale, the executive vice president now owns 13,450 shares of the company’s stock, valued at $2,199,344. The disclosure for this sale can be found here. Insiders own 3.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WMS shares. Stephens lifted their price objective on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. KeyCorp lifted their price objective on shares of Advanced Drainage Systems from $160.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Oppenheimer lifted their price objective on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, StockNews.com raised shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.13.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock opened at $158.52 on Thursday. The company has a quick ratio of 2.04, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $12.30 billion, a PE ratio of 25.20, a P/E/G ratio of 1.38 and a beta of 1.51. The firm has a fifty day simple moving average of $164.51 and a two-hundred day simple moving average of $141.32. Advanced Drainage Systems, Inc. has a twelve month low of $81.25 and a twelve month high of $176.31.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, February 8th. The construction company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.44. The business had revenue of $662.37 million during the quarter, compared to the consensus estimate of $632.69 million. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. Research analysts expect that Advanced Drainage Systems, Inc. will post 6.09 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.35%. The ex-dividend date was Thursday, February 29th. Advanced Drainage Systems’s dividend payout ratio is presently 8.90%.

Advanced Drainage Systems Profile

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.