Retirement Systems of Alabama Trims Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Retirement Systems of Alabama lowered its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,630 shares of the construction company’s stock after selling 4,277 shares during the quarter. Retirement Systems of Alabama’s holdings in Advanced Drainage Systems were worth $15,501,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc lifted its stake in shares of Advanced Drainage Systems by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 2,271 shares of the construction company’s stock valued at $357,000 after buying an additional 79 shares in the last quarter. CWM LLC raised its holdings in Advanced Drainage Systems by 18.1% during the third quarter. CWM LLC now owns 555 shares of the construction company’s stock valued at $87,000 after acquiring an additional 85 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Advanced Drainage Systems by 10.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the construction company’s stock valued at $164,000 after acquiring an additional 95 shares in the last quarter. West Oak Capital LLC boosted its stake in shares of Advanced Drainage Systems by 133.3% in the second quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after acquiring an additional 100 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its stake in shares of Advanced Drainage Systems by 4.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 2,411 shares of the construction company’s stock worth $379,000 after acquiring an additional 111 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WMS has been the topic of a number of research analyst reports. Robert W. Baird lowered their price target on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Barclays dropped their target price on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Stephens reiterated an “equal weight” rating and issued a $135.00 price target (down previously from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. Loop Capital dropped their price objective on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, Oppenheimer reduced their target price on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.29.

Advanced Drainage Systems Stock Performance

Shares of NYSE:WMS opened at $126.68 on Monday. The firm has a fifty day simple moving average of $142.14 and a two-hundred day simple moving average of $152.96. Advanced Drainage Systems, Inc. has a 52 week low of $125.44 and a 52 week high of $184.27. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $9.82 billion, a P/E ratio of 20.17, a PEG ratio of 1.22 and a beta of 1.48.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.23). The company had revenue of $782.60 million during the quarter, compared to analysts’ expectations of $819.41 million. Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.71 EPS. On average, analysts expect that Advanced Drainage Systems, Inc. will post 6.12 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.16 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.64 annualized dividend and a yield of 0.51%. Advanced Drainage Systems’s payout ratio is presently 10.19%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.