Advanced Drainage Systems Inc. (WMS) Sees Large Volume Increase
Shares of Advanced Drainage Systems Inc. (NYSE:WMS) saw unusually-strong trading volume on Thursday . Approximately 348,453 shares changed hands during trading, an increase of 15% from the previous session’s volume of 303,081 shares.The stock last traded at $23.67 and had previously closed at $23.94.
A number of analysts recently issued reports on WMS shares. TheStreet raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Tuesday, June 7th. Deutsche Bank AG reissued a “hold” rating and set a $25.00 price objective (up previously from $24.00) on shares of Advanced Drainage Systems in a report on Wednesday, June 8th. Royal Bank Of Canada increased their price objective on Advanced Drainage Systems from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, June 8th. Zacks Investment Research cut Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a report on Friday, June 10th. Finally, Boenning Scattergood cut Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $29.33.
The firm has a market cap of $1.30 billion and a PE ratio of 79.63. The firm’s 50 day moving average is $26.54 and its 200-day moving average is $23.85.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Tuesday, August 30th.
In other Advanced Drainage Systems news, CEO Joseph A. Chlapaty purchased 65,500 shares of the firm’s stock in a transaction dated Friday, June 10th. The stock was purchased at an average price of $26.79 per share, for a total transaction of $1,754,745.00. Following the completion of the purchase, the chief executive officer now directly owns 182,331 shares of the company’s stock, valued at $4,884,647.49. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph A. Chlapaty purchased 35,000 shares of the firm’s stock in a transaction dated 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 purchase, the chief executive officer now directly owns 182,331 shares of the company’s stock, valued at $4,736,959.38. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Advanced Drainage Systems stock. KBC Group NV raised its stake in Advanced Drainage Systems Inc. (NYSE:WMS) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,731 shares of the company’s stock after buying an additional 853 shares during the period. KBC Group NV owned about 0.26% of Advanced Drainage Systems worth $3,358,000 at the end of the most recent reporting 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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