Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 2,607.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,346 shares of the construction company’s stock after purchasing an additional 28,262 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Advanced Drainage Systems worth $594,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of WMS. Berkshire Partners LLC purchased a new stake in Advanced Drainage Systems in the 2nd quarter valued at $41,534,000. Deprince Race & Zollo Inc. purchased a new stake in Advanced Drainage Systems in the 3rd quarter valued at $26,964,000. GCA Investment Management LLC purchased a new stake in Advanced Drainage Systems in the 2nd quarter valued at $16,841,000. Russell Investments Group Ltd. purchased a new stake in Advanced Drainage Systems in the 3rd quarter valued at $9,196,000. Finally, Pictet Asset Management Ltd. grew its holdings in Advanced Drainage Systems by 6.8% in the 2nd quarter. Pictet Asset Management Ltd. now owns 2,850,429 shares of the construction company’s stock valued at $54,586,000 after buying an additional 182,167 shares in the last quarter. Hedge funds and other institutional investors own 80.58% of the company’s stock.
In other news, EVP Robert M. Klein sold 20,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $20.77, for a total value of $415,400.00. Following the transaction, the executive vice president now owns 340,205 shares of the company’s stock, valued at approximately $7,066,057.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 21.43% of the company’s stock.
Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.08). Advanced Drainage Systems had a net margin of 1.97% and a return on equity of 41.08%. The business had revenue of $401.00 million during the quarter, compared to analyst estimates of $376.45 million. During the same period last year, the company earned $0.35 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. research analysts expect that Advanced Drainage Systems, Inc. will post 0.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, November 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 75.68%.
Several brokerages have issued reports on WMS. Citigroup began coverage on Advanced Drainage Systems in a report on Wednesday, November 29th. They issued a “neutral” rating and a $26.00 target price for the company. BidaskClub upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. ValuEngine cut Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered Advanced Drainage Systems from a “buy” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $25.00 price target on shares of Advanced Drainage Systems in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $24.75.
COPYRIGHT VIOLATION NOTICE: This report was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://www.chaffeybreeze.com/2017/12/05/zurcher-kantonalbank-zurich-cantonalbank-raises-position-in-advanced-drainage-systems-inc-wms.html.
Advanced Drainage Systems Profile
Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.
Receive News & Ratings for Advanced Drainage Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Drainage Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.