PNC Financial Services Group Inc. lowered its stake in Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 0.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 419,367 shares of the construction company’s stock after selling 1,542 shares during the period. PNC Financial Services Group Inc. owned 0.52% of Advanced Drainage Systems worth $34,375,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC bought a new position in Advanced Drainage Systems in the 3rd quarter valued at approximately $30,000. Cullen Frost Bankers Inc. bought a new position in Advanced Drainage Systems in the 3rd quarter valued at approximately $37,000. Belpointe Asset Management LLC bought a new position in Advanced Drainage Systems in the 4th quarter valued at approximately $27,000. Neo Ivy Capital Management bought a new position in Advanced Drainage Systems in the 2nd quarter valued at approximately $33,000. Finally, Huntington National Bank lifted its position in Advanced Drainage Systems by 39.1% in the 3rd quarter. Huntington National Bank now owns 470 shares of the construction company’s stock valued at $58,000 after acquiring an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on WMS shares. Morgan Stanley lowered their price target on Advanced Drainage Systems from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Barclays increased their price target on Advanced Drainage Systems from $113.00 to $119.00 in a report on Friday. Oppenheimer increased their price target on Advanced Drainage Systems from $108.00 to $115.00 in a report on Friday. Loop Capital increased their price target on Advanced Drainage Systems from $115.00 to $120.00 in a report on Monday. Finally, Robert W. Baird increased their price target on Advanced Drainage Systems from $120.00 to $125.00 in a report on Friday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.17.
Advanced Drainage Systems Trading Down 1.9 %
NYSE:WMS opened at $96.55 on Monday. Advanced Drainage Systems, Inc. has a one year low of $75.02 and a one year high of $153.36. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.69 and a quick ratio of 1.89. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.04 and a beta of 1.38. The business has a fifty day moving average price of $83.45 and a 200-day moving average price of $87.12.
Advanced Drainage Systems (NYSE:WMS – Get Rating) last issued its quarterly earnings results on Thursday, May 18th. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.38. Advanced Drainage Systems had a return on equity of 52.49% and a net margin of 16.51%. The business had revenue of $617.60 million during the quarter, compared to analyst estimates of $567.10 million. During the same quarter in the prior year, the business posted $0.95 EPS. Advanced Drainage Systems’s revenue for the quarter was down 8.9% compared to the same quarter last year. Sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 5.28 EPS for the current year.
Advanced Drainage Systems Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Wednesday, May 31st. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.12. Advanced Drainage Systems’s dividend payout ratio is presently 7.91%.
Insiders Place Their Bets
In other Advanced Drainage Systems news, CAO Kevin C. Talley sold 22,006 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $89.67, for a total value of $1,973,278.02. Following the completion of the sale, the chief accounting officer now owns 40,019 shares in the company, valued at approximately $3,588,503.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.33% of the stock is currently owned by company insiders.
About Advanced Drainage Systems
(Get Rating)
Advanced Drainage Systems, Inc engages in the manufacture of thermoplastic corrugated pipe, which provides a suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. It operates through the following segments: Pipe, Infiltrator, International, and Allied Products & Other.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Advanced Drainage Systems, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Advanced Drainage Systems wasn’t on the list.
While Advanced Drainage Systems currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Source: marketbeat.com
PNC Financial Services Group Inc. lowered its stake in Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 0.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 419,367 shares of the construction company’s stock after selling 1,542 shares during the period. PNC Financial Services Group Inc. owned 0.52% of Advanced Drainage Systems worth $34,375,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC bought a new position in Advanced Drainage Systems in the 3rd quarter valued at approximately $30,000. Cullen Frost Bankers Inc. bought a new position in Advanced Drainage Systems in the 3rd quarter valued at approximately $37,000. Belpointe Asset Management LLC bought a new position in Advanced Drainage Systems in the 4th quarter valued at approximately $27,000. Neo Ivy Capital Management bought a new position in Advanced Drainage Systems in the 2nd quarter valued at approximately $33,000. Finally, Huntington National Bank lifted its position in Advanced Drainage Systems by 39.1% in the 3rd quarter. Huntington National Bank now owns 470 shares of the construction company’s stock valued at $58,000 after acquiring an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on WMS shares. Morgan Stanley lowered their price target on Advanced Drainage Systems from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Barclays increased their price target on Advanced Drainage Systems from $113.00 to $119.00 in a report on Friday. Oppenheimer increased their price target on Advanced Drainage Systems from $108.00 to $115.00 in a report on Friday. Loop Capital increased their price target on Advanced Drainage Systems from $115.00 to $120.00 in a report on Monday. Finally, Robert W. Baird increased their price target on Advanced Drainage Systems from $120.00 to $125.00 in a report on Friday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.17.
Advanced Drainage Systems Trading Down 1.9 %
NYSE:WMS opened at $96.55 on Monday. Advanced Drainage Systems, Inc. has a one year low of $75.02 and a one year high of $153.36. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.69 and a quick ratio of 1.89. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.04 and a beta of 1.38. The business has a fifty day moving average price of $83.45 and a 200-day moving average price of $87.12.
Advanced Drainage Systems (NYSE:WMS – Get Rating) last issued its quarterly earnings results on Thursday, May 18th. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.38. Advanced Drainage Systems had a return on equity of 52.49% and a net margin of 16.51%. The business had revenue of $617.60 million during the quarter, compared to analyst estimates of $567.10 million. During the same quarter in the prior year, the business posted $0.95 EPS. Advanced Drainage Systems’s revenue for the quarter was down 8.9% compared to the same quarter last year. Sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 5.28 EPS for the current year.
Advanced Drainage Systems Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Wednesday, May 31st. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.12. Advanced Drainage Systems’s dividend payout ratio is presently 7.91%.
Insiders Place Their Bets
In other Advanced Drainage Systems news, CAO Kevin C. Talley sold 22,006 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $89.67, for a total value of $1,973,278.02. Following the completion of the sale, the chief accounting officer now owns 40,019 shares in the company, valued at approximately $3,588,503.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.33% of the stock is currently owned by company insiders.
About Advanced Drainage Systems
(Get Rating)
Advanced Drainage Systems, Inc engages in the manufacture of thermoplastic corrugated pipe, which provides a suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. It operates through the following segments: Pipe, Infiltrator, International, and Allied Products & Other.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Advanced Drainage Systems, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Advanced Drainage Systems wasn’t on the list.
While Advanced Drainage Systems currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Source: marketbeat.com
