Advanced Drainage Systems, Inc. (NYSE:WMS) executive vice president, Michael G. Huebert, has recently sold company stock valued at approximately $1.73 million, according to a new SEC filing. The transaction involved the sale of 10,000 shares of common stock at an average price of $172.58 per share.
The sales took place on May 31, 2024, with the price per share ranging from $171.78 to $173.21. Following this transaction, Huebert's direct holdings in the company decreased to 7,225 shares of common stock. Additionally, the executive holds an indirect position of 28,794.8083 shares through the company's KSOP plan, which represents the current allocation under the plan.
Investors and followers of Advanced Drainage Systems, Inc. often monitor insider transactions as they provide insights into the company's performance and executives' perspectives on the stock's value. It is worth noting that the sale of shares by an executive does not necessarily indicate a negative outlook on the company's future; it could be related to personal financial management or other individual reasons.
Advanced Drainage Systems, Inc., headquartered in Hilliard, Ohio, specializes in plastic foam products and is recognized for its contributions to the industry. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol WMS.
InvestingPro Insights
Amidst the news of executive vice president Michael G. Huebert's stock sale, Advanced Drainage Systems, Inc. (NYSE:WMS) presents a mixed financial picture according to the latest data from InvestingPro. With a robust market capitalization of $13.1 billion, the company's financial health is backed by a Price/Earnings (P/E) ratio of 26.04, reflecting investor confidence in its earnings potential. Notably, the company has a track record of raising its dividend for three consecutive years, highlighting its commitment to shareholder returns.
One of the key InvestingPro Tips for Advanced Drainage Systems, Inc. is the company's consistent dividend payments over 11 consecutive years, which is a testament to its financial stability and management's confidence in sustained profitability. Another tip indicates that three analysts have revised their earnings upwards for the upcoming period, suggesting potential positive performance on the horizon.
The recent stock sale took place near the company's 52-week high, with the stock trading at 91.98% of this peak, and a Price/Book ratio of 11.36 as of the last twelve months ending Q4 2024. This high valuation multiple may indicate the market's high expectations for the company's asset value and future growth.
For investors looking to delve deeper into Advanced Drainage Systems, Inc.'s financial outlook, there are additional InvestingPro Tips available that can provide more comprehensive insights. Using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable tips and stay ahead in their investment decisions.
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