Advanced Drainage Systems Inc. (NYSE:WMS)’s share price was down 2.3% on Wednesday . The company traded as low as $24.29 and last traded at $24.33, with a volume of 53,824 shares trading hands. The stock had previously closed at $24.90.

A number of equities analysts have weighed in on WMS shares. Zacks Investment Research lowered shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Thursday, August 11th. Royal Bank Of Canada raised their target price on shares of Advanced Drainage Systems from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, June 8th. Boenning Scattergood downgraded shares of Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 11th. Deutsche Bank AG reissued a “hold” rating and issued a $25.00 target price (up previously from $24.00) on shares of Advanced Drainage Systems in a research note on Wednesday, June 8th. Finally, TheStreet raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, June 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $29.33.

The stock has a 50 day moving average of $26.70 and a 200-day moving average of $23.85. The stock has a market cap of $1.30 billion and a PE ratio of 79.80.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.00%. The ex-dividend date is Tuesday, August 30th.

In other news, CEO Joseph A. Chlapaty acquired 35,000 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The stock was acquired at an average cost of $25.98 per share, with a total value of $909,300.00. Following the acquisition, the chief executive officer now owns 182,331 shares in the company, valued at $4,736,959.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph A. Chlapaty acquired 65,500 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The shares were purchased at an average cost of $26.79 per share, with a total value 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 approximately $4,884,647.49. The disclosure for this purchase can be found here.

Several hedge funds have recently bought and sold shares of WMS. Dimensional Fund Advisors LP purchased a new stake in Advanced Drainage Systems during the fourth quarter valued at about $5,509,000. KBC Group NV increased its stake in Advanced Drainage Systems by 0.6% in the fourth quarter. KBC Group NV now owns 139,731 shares of the company’s stock valued at $3,358,000 after buying an additional 853 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Advanced Drainage Systems by 7.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 105,590 shares of the company’s stock valued at $2,538,000 after buying an additional 7,362 shares in the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.