Tortoise Capital Advisors L.L.C. Cuts Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Tortoise Capital Advisors L.L.C. trimmed its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 29.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,720 shares of the construction company's stock after selling 2,827 shares during the period. Tortoise Capital Advisors L.L.C.'s holdings in Advanced Drainage Systems were worth $566,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WMS. American Century Companies Inc. grew its stake in Advanced Drainage Systems by 11.6% during the first quarter. American Century Companies Inc. now owns 7,487 shares of the construction company's stock valued at $890,000 after acquiring an additional 779 shares in the last quarter. Natixis Advisors L.P. purchased a new position in shares of Advanced Drainage Systems in the 1st quarter worth $1,741,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Advanced Drainage Systems by 61.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,606 shares of the construction company's stock worth $1,141,000 after buying an additional 3,653 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Advanced Drainage Systems in the 1st quarter worth $472,000. Finally, Sei Investments Co. grew its stake in shares of Advanced Drainage Systems by 20.7% in the 1st quarter. Sei Investments Co. now owns 129,613 shares of the construction company's stock worth $15,325,000 after buying an additional 22,202 shares in the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

WMS traded up $1.40 on Monday, reaching $123.80. 78,542 shares of the company traded hands, compared to its average volume of 814,384. Advanced Drainage Systems, Inc. has a one year low of $75.02 and a one year high of $141.51. The firm has a fifty day simple moving average of $120.73 and a two-hundred day simple moving average of $100.38. The company has a market cap of $9.74 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 1.91 and a beta of 1.40. The company has a quick ratio of 1.75, a current ratio of 2.78 and a debt-to-equity ratio of 1.34.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The construction company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.51. Advanced Drainage Systems had a net margin of 16.82% and a return on equity of 50.53%. The company had revenue of $778.00 million during the quarter, compared to analyst estimates of $746.08 million. During the same quarter last year, the business posted $2.22 EPS. The firm's revenue for the quarter was down 14.9% on a year-over-year basis. As a group, equities research analysts expect that Advanced Drainage Systems, Inc. will post 5.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.14 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.56 annualized dividend and a dividend yield of 0.45%. Advanced Drainage Systems's dividend payout ratio is currently 9.29%.

WMS has been the subject of a number of recent research reports. KeyCorp lifted their price objective on shares of Advanced Drainage Systems from $150.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, August 21st. Barclays lifted their price objective on shares of Advanced Drainage Systems from $138.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, August 4th. StockNews.com started coverage on shares of Advanced Drainage Systems in a research note on Thursday, August 17th. They set a "hold" rating for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Advanced Drainage Systems from $131.00 to $162.00 and gave the stock a "buy" rating in a research note on Monday, August 7th. Finally, Oppenheimer lifted their price target on shares of Advanced Drainage Systems from $108.00 to $115.00 in a research note on Friday, May 19th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.88.

View Our Latest Report on Advanced Drainage Systems

In other news, insider Tim A. Makowski sold 3,000 shares of the business's stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $109.25, for a total value of $327,750.00. Following the completion of the sale, the insider now owns 8,647 shares in the company, valued at approximately $944,684.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Tim A. Makowski sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $109.25, for a total transaction of $327,750.00. Following the completion of the transaction, the insider now owns 8,647 shares in the company, valued at approximately $944,684.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Darin S. Harvey sold 7,000 shares of the business's stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $102.65, for a total transaction of $718,550.00. Following the transaction, the executive vice president now owns 5,171 shares of the company's stock, valued at approximately $530,803.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 231,800 shares of company stock worth $28,527,331. 3.79% of the stock is currently owned by corporate insiders.

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.

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