Shares of Advanced Drainage Systems Inc. (NYSE:WMS) traded 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 changing hands. The stock had previously closed at $24.90.

A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a report on Friday, June 10th. TheStreet upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Tuesday, June 7th. Boenning Scattergood restated an “outperform” rating on shares of Advanced Drainage Systems in a report on Friday, April 29th. Deutsche Bank AG restated a “hold” rating and issued a $25.00 price objective (up from $24.00) on shares of Advanced Drainage Systems in a report on Wednesday, June 8th. Finally, Royal Bank Of Canada increased their price objective on Advanced Drainage Systems from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, June 8th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Advanced Drainage Systems presently has a consensus rating of “Hold” and an average price target of $29.33.

The company’s 50 day moving average price is $26.54 and its 200 day moving average price is $23.85. The stock has a market cap of $1.30 billion and a price-to-earnings ratio of 79.97.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued 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 related news, CEO Joseph A. Chlapaty acquired 65,500 shares of the company’s stock in a transaction dated 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 acquisition, the chief executive officer now owns 182,331 shares of the company’s stock, valued at approximately $4,884,647.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph A. Chlapaty acquired 35,000 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were bought at an average cost of $25.98 per share, with a total value of $909,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 182,331 shares in the company, valued at approximately $4,736,959.38. The disclosure for this purchase can be found here.

A hedge fund recently bought a new stake in Advanced Drainage Systems stock. Dimensional Fund Advisors LP acquired a new position in Advanced Drainage Systems Inc. (NYSE:WMS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 229,272 shares of the company’s stock, valued at approximately $5,509,000. Dimensional Fund Advisors LP owned approximately 0.43% of Advanced Drainage Systems as of its most recent SEC filing.

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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