California Public Employees Retirement System Trims Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

California Public Employees Retirement System decreased its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 21.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,194 shares of the construction company's stock after selling 26,336 shares during the quarter. California Public Employees Retirement System owned approximately 0.13% of Advanced Drainage Systems worth $11,467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WMS. Schroder Investment Management Group lifted its holdings in Advanced Drainage Systems by 27.4% during the fourth quarter. Schroder Investment Management Group now owns 401,012 shares of the construction company's stock valued at $46,048,000 after purchasing an additional 86,141 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Advanced Drainage Systems by 32.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 359,111 shares of the construction company's stock valued at $41,513,000 after acquiring an additional 87,297 shares during the last quarter. Duff & Phelps Investment Management Co. grew its position in Advanced Drainage Systems by 4.2% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 159,424 shares of the construction company's stock valued at $18,429,000 after acquiring an additional 6,470 shares during the last quarter. Triodos Investment Management BV grew its position in Advanced Drainage Systems by 12.6% during the fourth quarter. Triodos Investment Management BV now owns 539,811 shares of the construction company's stock valued at $62,402,000 after acquiring an additional 60,500 shares during the last quarter. Finally, Norges Bank bought a new position in Advanced Drainage Systems during the fourth quarter valued at approximately $86,185,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

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Advanced Drainage Systems Trading Down 4.3 %

NYSE:WMS traded down $4.72 during trading hours on Thursday, hitting $104.01. The company had a trading volume of 64,028 shares, compared to its average volume of 569,538. The company has a market capitalization of $8.07 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The stock has a 50-day moving average price of $112.87 and a 200 day moving average price of $127.26. Advanced Drainage Systems, Inc. has a 52 week low of $93.92 and a 52 week high of $184.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its earnings results on Thursday, February 6th. The construction company reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. On average, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Friday, February 28th. Advanced Drainage Systems's payout ratio is 10.70%.

Analyst Ratings Changes

A number of research analysts have commented on WMS shares. Loop Capital reduced their price target on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. KeyCorp cut their target price on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a "buy" rating and a $134.00 target price on the stock. Barclays cut their target price on shares of Advanced Drainage Systems from $149.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, UBS Group upgraded shares of Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 target price on the stock in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $153.78.

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.