Advanced Drainage Systems Inc. (NYSE:WMS)’s share price fell 4.3% on Thursday . The company traded as low as $24.98 and last traded at $25.59, with a volume of 304,589 shares changing hands. The stock had previously closed at $26.73.

A number of brokerages have recently weighed in on WMS. Boenning Scattergood downgraded Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a report on Thursday. Zacks Investment Research upgraded Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a report on Thursday, June 30th. TheStreet raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, June 7th. Deutsche Bank AG reissued a “hold” rating and issued a $25.00 price target (up previously from $24.00) on shares of Advanced Drainage Systems in a research note on Wednesday, June 8th. Finally, Royal Bank Of Canada boosted their price target on Advanced Drainage Systems from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $29.33.

The company’s 50 day moving average is $26.96 and its 200 day moving average is $23.62. The stock has a market capitalization of $1.37 billion and a price-to-earnings ratio of 84.37.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, August 30th.

In related news, CEO Joseph A. Chlapaty bought 65,500 shares of Advanced Drainage Systems stock in a transaction on Friday, June 10th. The shares were purchased at an average price of $26.79 per share, for a total transaction of $1,754,745.00. Following the completion of the acquisition, the chief executive officer now owns 182,331 shares in the company, valued at $4,884,647.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph A. Chlapaty bought 35,000 shares of Advanced Drainage Systems stock in a transaction on Monday, June 13th. The shares were bought at an average price of $25.98 per share, for a total transaction of $909,300.00. Following the acquisition, the chief executive officer now owns 182,331 shares of the company’s stock, valued at approximately $4,736,959.38. The disclosure for this purchase can be found here.

A number of institutional investors recently modified their holdings of the company. California State Teachers Retirement System boosted its position in shares of 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. KBC Group NV boosted its position in shares of 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. Dimensional Fund Advisors LP bought a new position in shares of Advanced Drainage Systems during the fourth quarter worth about $5,509,000. Finally, California Public Employees Retirement System boosted its position in shares of 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.

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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