Federated Hermes Inc. Has $47.88 Million Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Federated Hermes Inc. grew its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 8.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 340,457 shares of the construction company’s stock after buying an additional 27,272 shares during the quarter. Federated Hermes Inc.’s holdings in Advanced Drainage Systems were worth $47,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WMS. Prudential Financial Inc. increased its holdings in Advanced Drainage Systems by 3.8% during the 2nd quarter. Prudential Financial Inc. now owns 2,238 shares of the construction company’s stock worth $203,000 after purchasing an additional 82 shares in the last quarter. Kessler Investment Group LLC lifted its stake in Advanced Drainage Systems by 9.1% in the 3rd quarter. Kessler Investment Group LLC now owns 1,245 shares of the construction company’s stock valued at $142,000 after acquiring an additional 104 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Advanced Drainage Systems by 4.6% during the 2nd quarter. Captrust Financial Advisors now owns 2,525 shares of the construction company’s stock worth $287,000 after acquiring an additional 112 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Advanced Drainage Systems by 47.8% in the first quarter. Belpointe Asset Management LLC now owns 495 shares of the construction company’s stock valued at $42,000 after purchasing an additional 160 shares during the last quarter. Finally, Creative Planning lifted its position in shares of Advanced Drainage Systems by 4.3% in the third quarter. Creative Planning now owns 3,893 shares of the construction company’s stock worth $443,000 after purchasing an additional 160 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

Shares of NYSE WMS opened at $155.57 on Friday. The company has a current ratio of 3.03, a quick ratio of 2.04 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $12.08 billion, a P/E ratio of 24.73, a P/E/G ratio of 1.37 and a beta of 1.50. Advanced Drainage Systems, Inc. has a 12 month low of $80.41 and a 12 month high of $176.31. The stock has a 50 day moving average of $164.78 and a 200-day moving average of $138.89.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.44. The firm had revenue of $662.37 million during the quarter, compared to analysts’ expectations of $632.69 million. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. As a group, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.09 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.36%. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 8.90%.

Insiders Place Their Bets

In related news, EVP Michael G. Huebert sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the transaction, the executive vice president now directly owns 13,450 shares of the company’s stock, valued at $2,199,344. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Advanced Drainage Systems news, Director Ross M. Jones sold 762,895 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the transaction, the director now owns 70,749 shares in the company, valued at approximately $11,532,087. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael G. Huebert sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total value of $1,635,200.00. Following the sale, the executive vice president now owns 13,450 shares of the company’s stock, valued at $2,199,344. The disclosure for this sale can be found here. Company insiders own 3.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. StockNews.com cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Monday, April 8th. 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 note on Thursday. Stephens lifted their target price on Advanced Drainage Systems from $138.00 to $182.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Finally, KeyCorp increased their price target on Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.13.

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.