Argent Capital Management LLC Acquires 300 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Argent Capital Management LLC raised its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,804 shares of the construction company’s stock after purchasing an additional 300 shares during the quarter. Argent Capital Management LLC’s holdings in Advanced Drainage Systems were worth $3,337,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Advanced Drainage Systems by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock worth $1,251,353,000 after purchasing an additional 395,099 shares during the period. Boston Partners raised its position in Advanced Drainage Systems by 16.9% in the 1st quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock worth $261,609,000 after purchasing an additional 219,629 shares during the period. Swedbank AB raised its position in Advanced Drainage Systems by 2.1% in the 2nd quarter. Swedbank AB now owns 1,308,821 shares of the construction company’s stock worth $209,922,000 after purchasing an additional 26,581 shares during the period. Canada Pension Plan Investment Board raised its position in Advanced Drainage Systems by 0.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,162,388 shares of the construction company’s stock worth $200,210,000 after purchasing an additional 4,100 shares during the period. Finally, KBC Group NV raised its position in Advanced Drainage Systems by 78.5% in the 4th quarter. KBC Group NV now owns 659,483 shares of the construction company’s stock worth $92,750,000 after purchasing an additional 289,925 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WMS has been the topic of a number of recent analyst reports. Northcoast Research initiated coverage on shares of Advanced Drainage Systems in a research report on Wednesday, May 8th. They issued a “buy” rating and a $190.00 price objective on the stock. KeyCorp raised their target price on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. StockNews.com lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Oppenheimer reaffirmed an “outperform” rating and set a $192.00 target price on shares of Advanced Drainage Systems in a research report on Thursday, August 15th. Finally, Barclays reduced their target price on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.14.

Insider Activity at Advanced Drainage Systems

In related news, CFO Scott A. Cottrill sold 73,207 shares of Advanced Drainage Systems stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $173.11, for a total transaction of $12,672,863.77. Following the transaction, the chief financial officer now directly owns 91,442 shares of the company’s stock, valued at $15,829,524.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Advanced Drainage Systems news, EVP Michael G. Huebert sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $172.58, for a total value of $1,725,800.00. Following the completion of the sale, the executive vice president now directly owns 7,225 shares in the company, valued at $1,246,890.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Scott A. Cottrill sold 73,207 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $173.11, for a total transaction of $12,672,863.77. Following the completion of the sale, the chief financial officer now owns 91,442 shares of the company’s stock, valued at $15,829,524.62. The disclosure for this sale can be found here. Insiders have sold a total of 87,007 shares of company stock valued at $15,047,248 over the last ninety days. 2.05% of the stock is owned by company insiders.

Advanced Drainage Systems Stock Up 4.0 %

WMS stock traded up $6.24 during trading on Friday, hitting $163.22. 454,482 shares of the company’s stock traded hands, compared to its average volume of 656,004. The firm has a market capitalization of $12.65 billion, a P/E ratio of 25.34, a PEG ratio of 1.29 and a beta of 1.55. The business has a fifty day simple moving average of $161.06 and a two-hundred day simple moving average of $164.03. The company has a quick ratio of 1.90, a current ratio of 2.89 and a debt-to-equity ratio of 1.04. Advanced Drainage Systems, Inc. has a 1 year low of $102.32 and a 1 year high of $184.27.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Friday, August 30th. Advanced Drainage Systems’s payout ratio is 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.