Wellington Management Group LLP Acquires 293,924 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Wellington Management Group LLP boosted its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 107.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 567,504 shares of the construction company’s stock after acquiring an additional 293,924 shares during the quarter. Wellington Management Group LLP owned 0.73% of Advanced Drainage Systems worth $79,814,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Contravisory Investment Management Inc. bought a new position in shares of Advanced Drainage Systems during the 4th quarter valued at about $27,000. GAMMA Investing LLC bought a new position in shares of Advanced Drainage Systems during the 4th quarter valued at about $28,000. Avalon Trust Co bought a new position in shares of Advanced Drainage Systems during the 4th quarter valued at about $38,000. ORG Partners LLC bought a new position in shares of Advanced Drainage Systems during the 4th quarter valued at about $60,000. Finally, Global Retirement Partners LLC increased its position in shares of Advanced Drainage Systems by 58.6% during the 4th quarter. Global Retirement Partners LLC now owns 788 shares of the construction company’s stock valued at $103,000 after purchasing an additional 291 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider D. Scott Barbour sold 85,938 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $174.10, for a total value of $14,961,805.80. Following the completion of the transaction, the insider now owns 45,994 shares of the company’s stock, valued at approximately $8,007,555.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider D. Scott Barbour sold 85,938 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $174.10, for a total value of $14,961,805.80. Following the completion of the transaction, the insider now owns 45,994 shares of the company’s stock, valued at approximately $8,007,555.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott A. Cottrill sold 73,207 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $173.11, for a total value 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 approximately $15,829,524.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 176,004 shares of company stock worth $30,547,285. 2.05% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com upgraded Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Barclays increased their target price on Advanced Drainage Systems from $189.00 to $202.00 and gave the company 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 target price for the company. Oppenheimer increased their target price on Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Finally, Robert W. Baird increased their target price on Advanced Drainage Systems from $192.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and a consensus price target of $181.88.

Advanced Drainage Systems Trading Down 2.6 %

NYSE WMS opened at $165.20 on Friday. Advanced Drainage Systems, Inc. has a fifty-two week low of $102.32 and a fifty-two week high of $184.27. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.90 and a current ratio of 2.96. The stock has a 50 day simple moving average of $167.86 and a two-hundred day simple moving average of $155.73. The stock has a market cap of $12.80 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 1.45 and a beta of 1.58.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, May 16th. The construction company reported $1.23 earnings per share for the quarter, topping 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 business had revenue of $653.80 million during the quarter, compared to analysts’ expectations of $611.99 million. During the same quarter last year, the business posted $1.06 EPS. The business’s revenue was up 5.9% on a year-over-year basis. On average, analysts forecast that Advanced Drainage Systems, Inc. will post 7.17 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.16 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.64 annualized dividend and a yield of 0.39%. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.14. Advanced Drainage Systems’s dividend payout ratio (DPR) is 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.