Advanced Drainage Systems Inc. (NYSE:WMS) dropped 1.2% during mid-day trading on Friday . The stock traded as low as $22.77 and last traded at $22.95, with a volume of 111,430 shares. The stock had previously closed at $23.24.

WMS has been the topic of several analyst reports. Royal Bank Of Canada raised their price target on shares of Advanced Drainage Systems from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 8th. Deutsche Bank AG reaffirmed a “hold” rating and set a $25.00 price target (up from $24.00) on shares of Advanced Drainage Systems in a research note on Wednesday, June 8th. TheStreet raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, June 7th. Zacks Investment Research cut shares of Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research note on Friday, June 10th. Finally, Boenning Scattergood cut shares of Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Advanced Drainage Systems has a consensus rating of “Hold” and an average price target of $29.33.

The stock has a 50 day moving average of $25.81 and a 200-day moving average of $24.02. The company has a market cap of $1.25 billion and a price-to-earnings ratio of 77.00.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.04%. 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 company’s stock in a transaction on Friday, June 10th. The shares were purchased at an average cost of $26.79 per share, for a total transaction of $1,754,745.00. Following the completion of the transaction, the chief executive officer now owns 182,331 shares in the company, valued at $4,884,647.49. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph A. Chlapaty purchased 35,000 shares of the company’s stock in a transaction on Monday, June 13th. The stock was acquired at an average price of $25.98 per share, for a total transaction of $909,300.00. Following the completion of the transaction, 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.

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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