QRG Capital Management Inc. Invests $632,000 in Advanced Drainage Systems, Inc. $WMS

QRG Capital Management Inc. acquired a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,557 shares of the construction company’s stock, valued at approximately $632,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valeo Financial Advisors LLC lifted its holdings in shares of Advanced Drainage Systems by 134.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 5,275 shares of the construction company’s stock worth $606,000 after acquiring an additional 3,028 shares during the period. Pacer Advisors Inc. bought a new stake in Advanced Drainage Systems in the third quarter valued at about $1,321,000. Asset Management One Co. Ltd. raised its position in Advanced Drainage Systems by 29.7% in the third quarter. Asset Management One Co. Ltd. now owns 19,982 shares of the construction company’s stock worth $2,772,000 after purchasing an additional 4,574 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Advanced Drainage Systems by 47.5% during the second quarter. Fisher Asset Management LLC now owns 40,651 shares of the construction company’s stock worth $4,669,000 after purchasing an additional 13,097 shares during the period. Finally, Truist Financial Corp acquired a new stake in Advanced Drainage Systems during the second quarter valued at approximately $211,000. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Stock Performance

Shares of NYSE:WMS opened at $155.95 on Friday. The business has a fifty day moving average of $150.27 and a 200-day moving average of $140.55. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.60 and a current ratio of 3.48. Advanced Drainage Systems, Inc. has a twelve month low of $93.92 and a twelve month high of $160.85. The firm has a market cap of $12.13 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, November 6th. The construction company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.27. Advanced Drainage Systems had a net margin of 15.35% and a return on equity of 28.85%. The firm had revenue of $850.38 million for the quarter, compared to analyst estimates of $802.49 million. During the same quarter in the prior year, the firm earned $1.70 EPS. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal 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 dividend on an annualized basis and a dividend yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 12.29%.

Insider Activity at Advanced Drainage Systems

In other news, Director Robert M. Eversole sold 10,569 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $152.82, for a total transaction of $1,615,154.58. Following the completion of the sale, the director owned 50,076 shares in the company, valued at $7,652,614.32. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas J. Sr. Waun sold 1,272 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $148.30, for a total value of $188,637.60. Following the transaction, the executive vice president directly owned 797 shares in the company, valued at $118,195.10. This trade represents a 61.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 97,772 shares of company stock worth $14,605,539. Company insiders own 1.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $176.00 target price on shares of Advanced Drainage Systems in a report on Thursday, January 15th. Barclays increased their price objective on Advanced Drainage Systems from $181.00 to $187.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Oppenheimer lifted their price objective on Advanced Drainage Systems from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. KeyCorp upped their target price on shares of Advanced Drainage Systems from $159.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, UBS Group lifted their price target on shares of Advanced Drainage Systems from $183.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $164.22.

Advanced Drainage Systems 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.