Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 25.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,470 shares of the construction company’s stock after purchasing an additional 3,693 shares during the period. Van ECK Associates Corp’s holdings in Advanced Drainage Systems were worth $2,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WMS. Raymond James & Associates increased its stake in shares of Advanced Drainage Systems by 0.8% during the third quarter. Raymond James & Associates now owns 35,806 shares of the construction company’s stock worth $4,076,000 after purchasing an additional 295 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Advanced Drainage Systems by 3.1% during the third quarter. Bank of New York Mellon Corp now owns 692,211 shares of the construction company’s stock worth $78,794,000 after purchasing an additional 20,947 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Advanced Drainage Systems by 94.9% during the third quarter. New York State Teachers Retirement System now owns 43,966 shares of the construction company’s stock worth $5,005,000 after purchasing an additional 21,413 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Advanced Drainage Systems by 11.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,740 shares of the construction company’s stock worth $9,987,000 after purchasing an additional 8,775 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Advanced Drainage Systems by 8.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 446,694 shares of the construction company’s stock worth $50,847,000 after purchasing an additional 35,868 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Down 0.8 %

Shares of NYSE WMS opened at $168.05 on Wednesday. The company has a 50 day simple moving average of $164.67 and a 200-day simple moving average of $143.11. The company has a market capitalization of $13.04 billion, a P/E ratio of 26.72, a P/E/G ratio of 1.49 and a beta of 1.51. 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, Inc. has a 1 year low of $84.71 and a 1 year high of $176.31.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, February 8th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 EPS. On average, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.09 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.33%. Advanced Drainage Systems’s payout ratio is currently 8.90%.

Insider Buying and Selling

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 transaction, the executive vice president now owns 13,450 shares of the company’s stock, valued at approximately $2,199,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction, the executive vice president now owns 13,450 shares of the company’s stock, valued at approximately $2,199,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ross M. Jones sold 762,895 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the transaction, 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. 3.79% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Stephens boosted 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 note on Friday, February 9th. KeyCorp increased their price objective on shares of Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Oppenheimer increased their price objective on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Finally, StockNews.com upgraded shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.13.

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.