Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,669 shares of the construction company’s stock after selling 151 shares during the period. Kovack Advisors Inc.’s holdings in Advanced Drainage Systems were worth $460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. purchased a new position in shares of Advanced Drainage Systems in the 4th quarter worth $27,000. GAMMA Investing LLC purchased a new position in shares of Advanced Drainage Systems in the 4th quarter worth about $28,000. Rise Advisors LLC acquired a new position in shares of Advanced Drainage Systems in the 1st quarter valued at about $32,000. Avalon Trust Co purchased a new stake in shares of Advanced Drainage Systems during the 4th quarter worth about $38,000. Finally, ORG Partners LLC acquired a new stake in Advanced Drainage Systems during the 4th quarter worth approximately $60,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Oppenheimer increased their price objective on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Stephens raised their price objective on Advanced Drainage Systems from $182.00 to $193.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. KeyCorp boosted their price objective on Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Northcoast Research assumed coverage on Advanced Drainage Systems in a research note on Wednesday, May 8th. They issued a “buy” rating and a $190.00 target price for the company. Finally, Barclays upped 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. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.88.

Insiders Place Their Bets

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

Advanced Drainage Systems Stock Up 0.7 %

Shares of NYSE:WMS traded up $1.06 during trading on Thursday, hitting $155.92. The company’s stock had a trading volume of 339,387 shares, compared to its average volume of 567,416. The company has a market capitalization of $12.09 billion, a PE ratio of 24.21, a PEG ratio of 1.27 and a beta of 1.55. 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’s 50-day moving average price is $168.01 and its two-hundred day moving average price is $157.64.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, May 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, beating 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 company had revenue of $653.80 million for the quarter, compared to analyst estimates of $611.99 million. During the same period in the prior year, the company posted $1.06 EPS. Advanced Drainage Systems’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 7.17 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.16 per share. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, May 31st. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 9.94%.

Advanced Drainage Systems 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.