PNC Financial Services Group Inc. Has $39.32 Million Stake in Advanced Drainage Systems, Inc. $WMS

PNC Financial Services Group Inc. trimmed its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 4.8% during the third quarter, Holdings Channel reports. The firm owned 283,489 shares of the construction company’s stock after selling 14,224 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Advanced Drainage Systems were worth $39,320,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WMS. Essex Investment Management Co. LLC raised its stake in Advanced Drainage Systems by 345.7% in the third quarter. Essex Investment Management Co. LLC now owns 42,898 shares of the construction company’s stock valued at $5,950,000 after buying an additional 33,274 shares during the period. Profund Advisors LLC bought a new position in shares of Advanced Drainage Systems during the 3rd quarter worth approximately $227,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Advanced Drainage Systems by 7.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,948 shares of the construction company’s stock worth $686,000 after acquiring an additional 326 shares during the last quarter. Candriam S.C.A. raised its stake in Advanced Drainage Systems by 27.5% in the 3rd quarter. Candriam S.C.A. now owns 120,179 shares of the construction company’s stock valued at $16,669,000 after acquiring an additional 25,909 shares during the period. Finally, Alps Advisors Inc. bought a new stake in Advanced Drainage Systems in the 3rd quarter valued at $447,000. Institutional investors own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Robert W. Baird set a $205.00 target price on shares of Advanced Drainage Systems in a research note on Friday, February 6th. KeyCorp lifted their target price on shares of Advanced Drainage Systems from $180.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Oppenheimer increased their price target on shares of Advanced Drainage Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Finally, Barclays raised their price objective on shares of Advanced Drainage Systems from $187.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.00.

Insider Buying and Selling

In other Advanced Drainage Systems news, Director Robert M. Eversole sold 10,569 shares of Advanced Drainage Systems stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $152.82, for a total value of $1,615,154.58. Following the completion of the transaction, the director directly owned 50,076 shares of the company’s stock, valued at $7,652,614.32. The trade was a 17.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.63% of the stock is currently owned by company insiders.

Advanced Drainage Systems Price Performance

NYSE:WMS opened at $170.99 on Tuesday. Advanced Drainage Systems, Inc. has a 52 week low of $93.92 and a 52 week high of $179.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 3.08 and a current ratio of 4.12. The firm’s 50-day simple moving average is $155.14 and its 200 day simple moving average is $146.45. The firm has a market cap of $13.32 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 2.02 and a beta of 1.34.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.16. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. The firm had revenue of $693.35 million for the quarter, compared to analyst estimates of $686.37 million. During the same quarter in the prior year, the business posted $1.09 EPS. The business’s revenue was up .4% compared to the same quarter last year. As a group, sell-side analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 0.4%. Advanced Drainage Systems’s dividend payout ratio is currently 11.98%.

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.