Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Shelton Capital Management

Shelton Capital Management cut its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,994 shares of the construction company’s stock after selling 148 shares during the period. Shelton Capital Management’s holdings in Advanced Drainage Systems were worth $341,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Advanced Drainage Systems by 94.2% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 233 shares of the construction company’s stock valued at $27,000 after purchasing an additional 113 shares during the period. Neo Ivy Capital Management bought a new position in Advanced Drainage Systems during the second quarter valued at about $33,000. Quadrant Capital Group LLC grew its holdings in Advanced Drainage Systems by 420.7% during the second quarter. Quadrant Capital Group LLC now owns 302 shares of the construction company’s stock worth $34,000 after acquiring an additional 244 shares during the period. Global Retirement Partners LLC grew its holdings in Advanced Drainage Systems by 8,940.0% during the first quarter. Global Retirement Partners LLC now owns 452 shares of the construction company’s stock worth $39,000 after acquiring an additional 447 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in Advanced Drainage Systems in the second quarter worth about $40,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Advanced Drainage Systems Price Performance

WMS opened at $117.92 on Tuesday. The firm has a market capitalization of $9.19 billion, a P/E ratio of 19.85, a PEG ratio of 1.88 and a beta of 1.41. The stock has a fifty day moving average of $114.22 and a 200-day moving average of $113.90. The company has a quick ratio of 1.98, a current ratio of 2.88 and a debt-to-equity ratio of 1.24. Advanced Drainage Systems, Inc. has a 12-month low of $75.02 and a 12-month high of $134.94.

Advanced Drainage Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Thursday, November 30th. Advanced Drainage Systems’s payout ratio is 9.43%.

Insider Buying and Selling

In other Advanced Drainage Systems news, insider Tim A. Makowski sold 2,500 shares of Advanced Drainage Systems stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $122.35, for a total transaction of $305,875.00. Following the transaction, the insider now owns 6,147 shares of the company’s stock, valued at approximately $752,085.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Advanced Drainage Systems news, Director Anil Seetharam sold 150,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $124.88, for a total value of $18,732,000.00. Following the completion of the sale, the director now owns 1,317,649 shares in the company, valued at approximately $164,548,007.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tim A. Makowski sold 2,500 shares of Advanced Drainage Systems stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $122.35, for a total transaction of $305,875.00. Following the sale, the insider now directly owns 6,147 shares of the company’s stock, valued at approximately $752,085.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 560,529 shares of company stock valued at $70,677,039. Corporate insiders own 3.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on WMS shares. Stephens started coverage on shares of Advanced Drainage Systems in a research report on Thursday, August 24th. They set an “overweight” rating and a $148.00 price objective for the company. KeyCorp reduced their target price on shares of Advanced Drainage Systems from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Deutsche Bank Aktiengesellschaft upped their price target on Advanced Drainage Systems from $131.00 to $162.00 and gave the company a “buy” rating in a report on Monday, August 7th. Robert W. Baird raised their price objective on Advanced Drainage Systems from $125.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Finally, Morgan Stanley boosted their target price on Advanced Drainage Systems from $114.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.13.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.