Duality Advisers LP Raises Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Duality Advisers LP increased its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 15.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 6,995 shares of the construction company’s stock after buying an additional 935 shares during the quarter. Duality Advisers LP’s holdings in Advanced Drainage Systems were worth $1,205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gallacher Capital Management LLC bought a new stake in shares of Advanced Drainage Systems in the 1st quarter worth approximately $282,000. Mawer Investment Management Ltd. purchased a new stake in Advanced Drainage Systems in the 1st quarter worth about $5,751,000. W.H. Cornerstone Investments Inc. bought a new stake in Advanced Drainage Systems in the 1st quarter valued at about $239,000. Texas Permanent School Fund Corp lifted its holdings in Advanced Drainage Systems by 1.0% during the first quarter. Texas Permanent School Fund Corp now owns 59,778 shares of the construction company’s stock valued at $10,296,000 after purchasing an additional 577 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Advanced Drainage Systems during the first quarter worth about $1,223,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Price Performance

Shares of WMS traded up $1.48 during midday trading on Friday, reaching $164.07. The stock had a trading volume of 161,863 shares, compared to its average volume of 482,649. The company’s 50-day moving average is $167.45 and its 200 day moving average is $158.22. Advanced Drainage Systems, Inc. has a 12-month low of $102.32 and a 12-month high of $184.27. The company has a current ratio of 2.96, a quick ratio of 1.90 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $12.72 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 1.29 and a beta of 1.55.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, May 16th. The construction company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.28. Advanced Drainage Systems had a return on equity of 46.93% and a net margin of 17.74%. The company had revenue of $653.80 million during the quarter, compared to analysts’ expectations of $611.99 million. During the same period in the prior year, the business posted $1.06 EPS. Advanced Drainage Systems’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities analysts predict that Advanced Drainage Systems, Inc. will post 7.17 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.39%. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 31st. Advanced Drainage Systems’s dividend payout ratio is 9.94%.

Wall Street Analyst Weigh In

WMS has been the topic of a number of recent research reports. StockNews.com upgraded shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Oppenheimer upped their price target on Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Barclays raised their price objective on shares of Advanced Drainage Systems from $189.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Robert W. Baird boosted their price objective on shares of Advanced Drainage Systems from $192.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Finally, KeyCorp boosted their price target on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.88.

Insider Activity

In other news, CFO Scott A. Cottrill sold 73,207 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $173.11, for a total transaction of $12,672,863.77. Following the completion of the transaction, the chief financial officer now directly owns 91,442 shares of the company’s stock, valued at $15,829,524.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Advanced Drainage Systems news, EVP Robert M. Klein sold 3,059 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $175.95, for a total transaction of $538,231.05. Following the completion of the transaction, the executive vice president now owns 102,070 shares of the company’s stock, valued at $17,959,216.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott A. Cottrill sold 73,207 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $173.11, for a total transaction of $12,672,863.77. Following the transaction, the chief financial officer now directly owns 91,442 shares of the company’s stock, valued at approximately $15,829,524.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,004 shares of company stock valued at $30,547,285. Insiders own 2.05% of the company’s stock.

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.