Arizona State Retirement System Grows Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Arizona State Retirement System lifted its holdings in Advanced Drainage Systems, Inc. (NYSE:WMSGet Rating) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,443 shares of the construction company’s stock after buying an additional 199 shares during the quarter. Arizona State Retirement System’s holdings in Advanced Drainage Systems were worth $1,716,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brandywine Oak Private Wealth LLC grew its position in Advanced Drainage Systems by 21.6% during the 1st quarter. Brandywine Oak Private Wealth LLC now owns 2,287 shares of the construction company’s stock valued at $271,000 after purchasing an additional 407 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in Advanced Drainage Systems by 9.3% during the 1st quarter. Integrated Advisors Network LLC now owns 4,087 shares of the construction company’s stock valued at $486,000 after acquiring an additional 347 shares during the period. Signaturefd LLC lifted its stake in Advanced Drainage Systems by 1,168.4% during the 1st quarter. Signaturefd LLC now owns 482 shares of the construction company’s stock valued at $57,000 after acquiring an additional 444 shares during the period. AEGON ASSET MANAGEMENT UK Plc lifted its stake in Advanced Drainage Systems by 14.2% during the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 238,625 shares of the construction company’s stock valued at $28,351,000 after acquiring an additional 29,652 shares during the period. Finally, Comerica Bank lifted its stake in Advanced Drainage Systems by 1.6% during the 1st quarter. Comerica Bank now owns 89,863 shares of the construction company’s stock valued at $10,122,000 after acquiring an additional 1,435 shares during the period. 98.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Advanced Drainage Systems

In other Advanced Drainage Systems news, EVP Darin S. Harvey sold 20,000 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $112.55, for a total transaction of $2,251,000.00. Following the completion of the sale, the executive vice president now directly owns 4,600 shares of the company’s stock, valued at approximately $517,730. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Advanced Drainage Systems news, EVP Darin S. Harvey sold 20,000 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $112.55, for a total transaction of $2,251,000.00. Following the completion of the sale, the executive vice president now directly owns 4,600 shares of the company’s stock, valued at approximately $517,730. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Kevin C. Talley sold 26,500 shares of the firm’s stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $90.54, for a total transaction of $2,399,310.00. Following the completion of the transaction, the chief accounting officer now directly owns 62,025 shares of the company’s stock, valued at $5,615,743.50. The disclosure for this sale can be found here. Insiders sold a total of 355,426 shares of company stock valued at $38,979,477 in the last three months. 9.33% of the stock is currently owned by corporate insiders.

Advanced Drainage Systems Price Performance

NYSE WMS opened at $118.60 on Monday. Advanced Drainage Systems, Inc. has a 12 month low of $80.81 and a 12 month high of $138.02. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 37.65 and a beta of 1.42. The company’s 50 day moving average is $99.11 and its two-hundred day moving average is $108.03. The company has a current ratio of 2.23, a quick ratio of 0.97 and a debt-to-equity ratio of 1.01.

Advanced Drainage Systems (NYSE:WMSGet Rating) last released its earnings results on Thursday, May 19th. The construction company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.23. Advanced Drainage Systems had a net margin of 9.75% and a return on equity of 37.32%. The company had revenue of $678.20 million for the quarter, compared to analysts’ expectations of $623.91 million. During the same quarter last year, the business earned $0.23 EPS. The firm’s revenue was up 52.8% compared to the same quarter last year. As a group, research analysts anticipate that Advanced Drainage Systems, Inc. will post 3.83 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were issued a dividend of $0.12 per share. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Tuesday, May 31st. Advanced Drainage Systems’s dividend payout ratio (DPR) is 15.24%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WMS shares. Robert W. Baird lowered their target price on shares of Advanced Drainage Systems from $158.00 to $137.00 and set an “outperform” rating on the stock in a research note on Friday, May 20th. Loop Capital lowered their price objective on shares of Advanced Drainage Systems from $158.00 to $124.00 and set a “buy” rating on the stock in a research note on Friday, July 8th. Morgan Stanley lowered their price objective on shares of Advanced Drainage Systems from $142.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 28th. Barclays lowered their price objective on shares of Advanced Drainage Systems from $138.00 to $135.00 in a research note on Thursday, July 14th. Finally, TheStreet cut shares of Advanced Drainage Systems from a “b” rating to a “c+” rating in a research note on Thursday, May 19th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.00.

About Advanced Drainage Systems

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Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the underground construction and infrastructure marketplace in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.

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Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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