Insider Buying: Advanced Drainage Systems Inc (NYSE:WMS) Director Buys 2,000,000 Shares of Stock

Advanced Drainage Systems Inc (NYSE:WMS) Director Ross M. Jones bought 2,000,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $29.75 per share, for a total transaction of $59,500,000.00. Following the acquisition, the director now directly owns 10,507 shares of the company’s stock, valued at approximately $312,583.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of WMS traded down $0.28 during mid-day trading on Thursday, hitting $31.51. 429,060 shares of the stock were exchanged, compared to its average volume of 306,511. The firm has a 50-day moving average of $32.40 and a two-hundred day moving average of $29.57. Advanced Drainage Systems Inc has a 52-week low of $23.04 and a 52-week high of $35.29. The company has a market cap of $1.88 billion, a PE ratio of 25.83 and a beta of 0.88. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.03 and a current ratio of 1.97.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.29). The business had revenue of $413.70 million during the quarter, compared to the consensus estimate of $413.64 million. Advanced Drainage Systems had a negative net margin of 12.86% and a positive return on equity of 34.94%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. On average, sell-side analysts predict that Advanced Drainage Systems Inc will post -3.12 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.09 per share. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, August 29th. Advanced Drainage Systems’s dividend payout ratio is 29.51%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. purchased a new stake in Advanced Drainage Systems in the second quarter valued at about $810,000. MIG Capital LLC grew its holdings in Advanced Drainage Systems by 75.7% during the second quarter. MIG Capital LLC now owns 1,000,180 shares of the construction company’s stock worth $32,796,000 after acquiring an additional 430,987 shares during the period. Nuveen Asset Management LLC acquired a new stake in Advanced Drainage Systems during the second quarter worth about $12,363,000. UBS Asset Management Americas Inc. grew its holdings in Advanced Drainage Systems by 23.4% during the second quarter. UBS Asset Management Americas Inc. now owns 46,736 shares of the construction company’s stock worth $1,532,000 after acquiring an additional 8,873 shares during the period. Finally, Citadel Advisors LLC grew its holdings in Advanced Drainage Systems by 275.6% in the second quarter. Citadel Advisors LLC now owns 60,061 shares of the construction company’s stock valued at $1,970,000 after purchasing an additional 44,071 shares during the period. Hedge funds and other institutional investors own 78.92% of the company’s stock.

Several research firms recently weighed in on WMS. ValuEngine cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Zacks Investment Research lowered Advanced Drainage Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Barclays lifted their price target on Advanced Drainage Systems from $29.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 6th. Finally, TheStreet downgraded Advanced Drainage Systems from a “b” rating to a “c” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Advanced Drainage Systems has a consensus rating of “Hold” and an average price target of $33.25.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

See Also: Initial Coin Offerings entail a high degree of risk

Receive News & Ratings for Advanced Drainage Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Drainage Systems and related companies with MarketBeat.com's FREE daily email newsletter.