Retirement Systems of Alabama Has $9.92 Million Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Retirement Systems of Alabama reduced its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,793 shares of the construction company's stock after selling 12,837 shares during the quarter. Retirement Systems of Alabama owned about 0.11% of Advanced Drainage Systems worth $9,918,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WMS. State Street Corp grew its stake in shares of Advanced Drainage Systems by 8.8% in the third quarter. State Street Corp now owns 2,541,688 shares of the construction company's stock worth $399,452,000 after purchasing an additional 206,105 shares in the last quarter. Fernbridge Capital Management LP grew its stake in shares of Advanced Drainage Systems by 108.2% in the third quarter. Fernbridge Capital Management LP now owns 253,549 shares of the construction company's stock worth $39,848,000 after purchasing an additional 131,781 shares in the last quarter. KBC Group NV grew its stake in shares of Advanced Drainage Systems by 21.2% in the fourth quarter. KBC Group NV now owns 738,749 shares of the construction company's stock worth $85,399,000 after purchasing an additional 129,252 shares in the last quarter. abrdn plc grew its stake in shares of Advanced Drainage Systems by 28.5% in the third quarter. abrdn plc now owns 579,485 shares of the construction company's stock worth $91,683,000 after purchasing an additional 128,539 shares in the last quarter. Finally, Swedbank AB grew its stake in shares of Advanced Drainage Systems by 5.8% in the third quarter. Swedbank AB now owns 1,384,276 shares of the construction company's stock worth $217,553,000 after purchasing an additional 75,455 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Stock Down 1.8 %

Advanced Drainage Systems stock traded down $2.24 during mid-day trading on Wednesday, hitting $124.75. The company's stock had a trading volume of 559,115 shares, compared to its average volume of 658,011. The firm's 50 day moving average is $121.00 and its 200 day moving average is $139.33. The company has a market cap of $9.67 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.52. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 2.15. Advanced Drainage Systems, Inc. has a 52-week low of $110.75 and a 52-week high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. On average, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.12 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.51%. The ex-dividend date is Friday, February 28th. Advanced Drainage Systems's payout ratio is currently 10.70%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WMS. Loop Capital cut their price objective on Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating for the company in a report on Friday, February 7th. Barclays cut their price objective on Advanced Drainage Systems from $160.00 to $149.00 and set an "overweight" rating for the company in a report on Friday, February 7th. Robert W. Baird cut their price objective on Advanced Drainage Systems from $174.00 to $161.00 and set an "outperform" rating for the company in a report on Monday, November 11th. UBS Group upgraded Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price objective for the company in a report on Wednesday, January 8th. Finally, Stephens restated an "equal weight" rating and issued a $135.00 price objective on shares of Advanced Drainage Systems in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $164.25.

About Advanced Drainage Systems

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.