Shares of Advanced Drainage Systems Inc. (NYSE:WMS) saw unusually-strong trading volume on Friday . Approximately 248,013 shares traded hands during trading, a decline of 17% from the previous session’s volume of 300,366 shares.The stock last traded at $27.15 and had previously closed at $27.09.

A number of equities research analysts have commented on WMS shares. Royal Bank Of Canada increased their price objective on shares of Advanced Drainage Systems from $25.00 to $27.00 in a report on Tuesday, April 12th. Zacks Investment Research raised shares of Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a report on Thursday, June 30th. Robert W. Baird reissued a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, March 31st. Deutsche Bank AG cut their target price on shares of Advanced Drainage Systems from $32.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, March 31st. Finally, TheStreet upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Advanced Drainage Systems currently has an average rating of “Hold” and a consensus target price of $29.33.

The stock’s 50-day moving average price is $26.79 and its 200-day moving average price is $23.02. The firm has a market cap of $1.48 billion and a P/E ratio of 90.63.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were paid a $0.06 dividend. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Tuesday, June 14th.

In related news, CEO Joseph A. Chlapaty purchased 35,000 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The stock was acquired at an average price of $25.98 per share, with a total value of $909,300.00. Following the completion of the purchase, the chief executive officer now directly owns 182,331 shares in the company, valued at $4,736,959.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph A. Chlapaty purchased 65,500 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The stock was bought at an average cost of $26.79 per share, with a total value of $1,754,745.00. Following the purchase, the chief executive officer now owns 182,331 shares of the company’s stock, valued at $4,884,647.49. The disclosure for this purchase can be found here.

A number of hedge funds and institutional investors recently bought and sold shares of WMS. Eagle Asset Management increased its position in Advanced Drainage Systems by 181.7% in the third quarter. Eagle Asset Management now owns 1,334,930 shares of the company’s stock worth $38,618,000 after buying an additional 860,965 shares during the period. Dimensional Fund Advisors LP bought a new position in Advanced Drainage Systems during the fourth quarter worth approximately $5,509,000. California Public Employees Retirement System increased its position in Advanced Drainage Systems by 7.0% in the fourth quarter. California Public Employees Retirement System now owns 253,600 shares of the company’s stock worth $6,094,000 after buying an additional 16,700 shares during the period. California State Teachers Retirement System increased its position in Advanced Drainage Systems by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 62,371 shares of the company’s stock worth $1,499,000 after buying an additional 1,021 shares during the period. Finally, KBC Group NV increased its position in Advanced Drainage Systems by 0.6% in the fourth quarter. KBC Group NV now owns 139,731 shares of the company’s stock worth $3,358,000 after buying an additional 853 shares during the period.

Advanced Drainage Systems, Inc designs, manufactures and markets thermoplastic corrugated pipe and related water management products. The Company operates through two segments: Domestic and International. Its product line includes corrugated high density polyethylene (HDPE) pipe, polypropylene (PP) pipe and related water management products.

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