In a recent transaction, Darin S. Harvey, the Executive Vice President of Supply Chain & Logistics at Advanced Drainage Systems, Inc. (NYSE:WMS), sold shares of the company's common stock. The sales occurred on May 21, 2024, and were reported in a filing with the Securities and Exchange Commission.
Harvey sold a total of 9,517 shares of Advanced Drainage Systems stock at an average price range between $177.8322 and $177.889, netting a total of approximately $1.69 million. These transactions involved multiple sales at varying prices within the stated range.
In addition to the sales, the EVP also acquired shares through the exercise of options. Harvey exercised options to purchase 2,806 shares at a price of $105.82 per share and another 2,578 shares at $99.29 per share. The total value for these option exercises amounted to approximately $552,900, also occurring on May 21.
Following these transactions, Harvey's direct ownership in the company has been adjusted, with a disclosed direct ownership of common stock in the non-derivative holdings section of the filing.
Investors and followers of Advanced Drainage Systems, Inc. often monitor such insider transactions as they may provide insights into the company's performance and executives' perspectives on the stock's value. The company, which specializes in plastic foam products, trades under the ticker symbol WMS on the New York Stock Exchange.
The filing also included footnotes detailing the weighted average prices of the sales and the terms of the options exercised by Harvey. According to the footnotes, he has agreed to provide further details on the transactions upon request.
The reported transactions provide a glimpse into the financial activities of one of the key executives at Advanced Drainage Systems, showcasing a significant amount of stock being sold and options being exercised.
InvestingPro Insights
As investors evaluate the recent insider transactions at Advanced Drainage Systems, Inc. (NYSE:WMS), understanding the broader financial context of the company can provide valuable insights. According to InvestingPro data, Advanced Drainage Systems has a market capitalization of $13.54 billion and is trading at a P/E ratio of 26.73. The company's Price / Book ratio stands at 11.71, which may suggest a higher market valuation relative to its book value.
From an earnings perspective, three analysts have revised their earnings upwards for the upcoming period, as per InvestingPro Tips. This could indicate a positive outlook on the company's financial performance and potential growth. Additionally, Advanced Drainage Systems has demonstrated a commitment to rewarding shareholders by raising its dividend for 3 consecutive years, highlighting a stable and investor-friendly approach to capital distribution.
Investors considering the company's stock should note that Advanced Drainage Systems has maintained dividend payments for 11 consecutive years, which is a testament to its financial resilience and management's confidence in the company's cash flow stability. The recent stock price movements have shown a 6-month total return of 48.49%, reflecting significant investor optimism and market momentum.
For those interested in diving deeper into Advanced Drainage Systems' financials and future prospects, there are additional InvestingPro Tips available at InvestingPro. Take advantage of the exclusive offer using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and explore the full range of insights that can aid in making informed investment decisions.
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