Advanced Drainage Systems Inc. (WMS) Sees Large Volume Increase
Advanced Drainage Systems Inc. (NYSE:WMS) shares saw an uptick in trading volume on Thursday . 348,453 shares were traded during mid-day 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 research firms have recently commented on WMS. Zacks Investment Research raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Friday. Boenning Scattergood lowered Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 11th. TheStreet raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Deutsche Bank AG reaffirmed a “hold” rating and set a $25.00 price target (up previously from $24.00) on shares of Advanced Drainage Systems in a research report on Wednesday, June 8th. Finally, Royal Bank Of Canada raised their price target on Advanced Drainage Systems from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Advanced Drainage Systems has a consensus rating of “Hold” and a consensus price target of $29.33.
The stock has a market cap of $1.30 billion and a price-to-earnings ratio of 79.57. The stock’s 50 day moving average price is $26.45 and its 200 day moving average price is $23.88.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.01%.
In related news, CEO Joseph A. Chlapaty purchased 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 transaction, the chief executive officer now owns 182,331 shares of the company’s stock, valued at approximately $4,884,647.49. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joseph A. Chlapaty purchased 35,000 shares of Advanced Drainage Systems stock in a transaction on Monday, June 13th. The stock was bought at an average price of $25.98 per share, for a total transaction of $909,300.00. Following the transaction, 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.
An institutional investor recently raised its position in Advanced Drainage Systems stock. KBC Group NV increased its position in shares of Advanced Drainage Systems Inc. (NYSE:WMS) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 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.