Northcape Capital Pty Ltd Lowers Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Northcape Capital Pty Ltd reduced its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 6.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,481 shares of the construction company’s stock after selling 416 shares during the quarter. Advanced Drainage Systems accounts for about 0.1% of Northcape Capital Pty Ltd’s holdings, making the stock its 26th largest holding. Northcape Capital Pty Ltd’s holdings in Advanced Drainage Systems were worth $911,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Advanced Drainage Systems by 76.4% in the 1st quarter. BlackRock Inc. now owns 6,672,684 shares of the construction company’s stock valued at $561,907,000 after acquiring an additional 2,890,821 shares during the last quarter. Morgan Stanley boosted its stake in shares of Advanced Drainage Systems by 210.6% during the fourth quarter. Morgan Stanley now owns 1,123,772 shares of the construction company’s stock valued at $92,116,000 after purchasing an additional 761,995 shares during the period. State Street Corp grew its holdings in shares of Advanced Drainage Systems by 55.8% in the first quarter. State Street Corp now owns 2,054,386 shares of the construction company’s stock worth $173,000,000 after purchasing an additional 735,476 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in shares of Advanced Drainage Systems in the second quarter worth $70,816,000. Finally, Vanguard Group Inc. raised its holdings in Advanced Drainage Systems by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 5,287,218 shares of the construction company’s stock valued at $628,174,000 after buying an additional 526,175 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on WMS shares. Barclays boosted their price objective on shares of Advanced Drainage Systems from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. StockNews.com raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research report on Saturday, March 16th. KeyCorp lifted their price objective on Advanced Drainage Systems from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Finally, Stephens raised their price target on Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.13.

Insiders Place Their Bets

In other news, EVP Michael G. Huebert sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total value of $1,635,200.00. Following the transaction, the executive vice president now directly owns 13,450 shares in the company, valued at approximately $2,199,344. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Ross M. Jones sold 762,895 shares of Advanced Drainage Systems stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the transaction, the director now directly owns 70,749 shares in the company, valued at $11,532,087. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael G. Huebert sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total value of $1,635,200.00. Following the completion of the sale, the executive vice president now owns 13,450 shares of the company’s stock, valued at approximately $2,199,344. The disclosure for this sale can be found here. 3.79% of the stock is currently owned by insiders.

Advanced Drainage Systems Stock Up 1.3 %

WMS stock traded up $2.24 during midday trading on Thursday, hitting $173.68. The stock had a trading volume of 92,615 shares, compared to its average volume of 486,476. The business has a 50-day moving average of $154.76 and a two-hundred day moving average of $133.26. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 2.04. The firm has a market cap of $13.48 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 2.12 and a beta of 1.50. Advanced Drainage Systems, Inc. has a 52-week low of $75.76 and a 52-week high of $176.31.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 EPS for the quarter, topping the consensus estimate of $0.93 by $0.44. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The business had revenue of $662.37 million for the quarter, compared to analyst estimates of $632.69 million. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Advanced Drainage Systems’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.07 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Thursday, February 29th. Advanced Drainage Systems’s payout ratio is presently 8.90%.

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.