Perpetual Ltd Has $9.57 Million Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Perpetual Ltd grew its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 9.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,575 shares of the construction company’s stock after buying an additional 4,889 shares during the period. Perpetual Ltd’s holdings in Advanced Drainage Systems were worth $9,572,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in shares of Advanced Drainage Systems in the first quarter valued at approximately $32,000. Contravisory Investment Management Inc. acquired a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at approximately $27,000. GAMMA Investing LLC acquired a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at approximately $28,000. Avalon Trust Co acquired a new stake in Advanced Drainage Systems during the 4th quarter worth approximately $38,000. Finally, ORG Partners LLC acquired a new stake in Advanced Drainage Systems during the 4th quarter worth approximately $60,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WMS has been the subject of several research reports. Stephens lifted their price target on Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Northcoast Research initiated coverage on Advanced Drainage Systems in a report on Wednesday, May 8th. They set a “buy” rating and a $190.00 price target for the company. Robert W. Baird lifted their price target on Advanced Drainage Systems from $192.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Barclays lifted their price target on Advanced Drainage Systems from $189.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Finally, Oppenheimer lifted their price target on Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.88.

Insider Activity

In related news, insider D. Scott Barbour sold 85,938 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $174.10, for a total transaction of $14,961,805.80. Following the sale, the insider now owns 45,994 shares in the company, valued at approximately $8,007,555.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider D. Scott Barbour sold 85,938 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $174.10, for a total transaction of $14,961,805.80. Following the sale, the insider now owns 45,994 shares in the company, valued at approximately $8,007,555.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael G. Huebert sold 10,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $172.58, for a total value of $1,725,800.00. Following the sale, the executive vice president now owns 7,225 shares in the company, valued at approximately $1,246,890.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 176,004 shares of company stock worth $30,547,285. Insiders own 2.05% of the company’s stock.

Advanced Drainage Systems Price Performance

Advanced Drainage Systems stock opened at $169.61 on Friday. The stock’s fifty day moving average price is $167.83 and its two-hundred day moving average price is $155.45. Advanced Drainage Systems, Inc. has a one year low of $102.32 and a one year high of $184.27. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.96 and a quick ratio of 1.90. The firm has a market cap of $13.15 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.45 and a beta of 1.58.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, May 16th. The construction company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $653.80 million for the quarter, compared to analyst estimates of $611.99 million. During the same quarter last year, the company earned $1.06 EPS. The company’s revenue was up 5.9% on a year-over-year basis. As a group, research analysts expect that Advanced Drainage Systems, Inc. will post 7.17 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.16 dividend. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, May 31st. This represents a $0.64 annualized dividend and a dividend yield of 0.38%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 9.94%.

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.