Advanced Drainage Systems (NYSE:WMS) Sets New 52-Week High – Here’s What Happened

Advanced Drainage Systems, Inc. (NYSE:WMS)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $156.69 and last traded at $154.0650, with a volume of 85128 shares changing hands. The stock had previously closed at $149.63.

Wall Street Analyst Weigh In

WMS has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Advanced Drainage Systems from $176.00 to $181.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Wednesday, October 8th. UBS Group boosted their price target on Advanced Drainage Systems from $183.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday. KeyCorp boosted their price objective on shares of Advanced Drainage Systems from $159.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Royal Bank Of Canada boosted their target price on Advanced Drainage Systems from $158.00 to $168.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and an average price target of $160.44.

Advanced Drainage Systems Stock Performance

The firm has a fifty day moving average of $147.25 and a 200-day moving average of $137.66. The company has a quick ratio of 2.60, a current ratio of 3.48 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.94 and a beta of 1.33.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.27. The business had revenue of $850.38 million during the quarter, compared to the consensus estimate of $802.49 million. Advanced Drainage Systems had a return on equity of 28.85% and a net margin of 15.35%.The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.70 EPS. As a group, sell-side analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.72 annualized dividend and a yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio is currently 12.29%.

Insider Activity at Advanced Drainage Systems

In other news, insider D. Scott Barbour sold 80,030 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $148.95, for a total value of $11,920,468.50. Following the sale, the insider owned 42,867 shares in the company, valued at approximately $6,385,039.65. This represents a 65.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas J. Sr. Waun sold 1,272 shares of Advanced Drainage Systems stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $148.30, for a total transaction of $188,637.60. Following the completion of the transaction, the executive vice president directly owned 797 shares of the company’s stock, valued at $118,195.10. This trade represents a 61.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 97,772 shares of company stock valued at $14,605,539. 1.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Advanced Drainage Systems by 50.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,114,224 shares of the construction company’s stock valued at $338,360,000 after acquiring an additional 1,049,697 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Advanced Drainage Systems by 4.8% during the 2nd quarter. Impax Asset Management Group plc now owns 3,043,909 shares of the construction company’s stock valued at $348,709,000 after buying an additional 139,495 shares during the period. State Street Corp increased its position in Advanced Drainage Systems by 3.1% in the 3rd quarter. State Street Corp now owns 2,551,901 shares of the construction company’s stock worth $353,949,000 after purchasing an additional 75,777 shares during the last quarter. First Trust Advisors LP increased its position in Advanced Drainage Systems by 10.9% in the 3rd quarter. First Trust Advisors LP now owns 2,416,942 shares of the construction company’s stock worth $335,230,000 after purchasing an additional 238,179 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Advanced Drainage Systems by 6.5% during the 3rd quarter. American Century Companies Inc. now owns 1,472,176 shares of the construction company’s stock worth $204,191,000 after purchasing an additional 90,106 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.