Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,630 shares of the construction company's stock after selling 4,277 shares during the period. Retirement Systems of Alabama owned 0.13% of Advanced Drainage Systems worth $15,501,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Advanced Drainage Systems during the second quarter valued at about $2,096,000. Assenagon Asset Management S.A. lifted its stake in Advanced Drainage Systems by 800.5% during the second quarter. Assenagon Asset Management S.A. now owns 18,353 shares of the construction company's stock worth $2,944,000 after purchasing an additional 16,315 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Advanced Drainage Systems by 1,472.7% during the second quarter. Blue Trust Inc. now owns 173 shares of the construction company's stock worth $30,000 after buying an additional 162 shares during the period. Raymond James & Associates grew its stake in shares of Advanced Drainage Systems by 5.8% in the second quarter. Raymond James & Associates now owns 47,575 shares of the construction company's stock valued at $7,630,000 after buying an additional 2,598 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Advanced Drainage Systems by 10.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the construction company's stock valued at $164,000 after buying an additional 95 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Down 2.4 %

Shares of WMS stock traded down $2.98 on Monday, reaching $123.70. 615,147 shares of the stock were exchanged, compared to its average volume of 514,718. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.22 and a beta of 1.48. The business's 50 day moving average price is $141.53 and its 200 day moving average price is $152.61. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97. Advanced Drainage Systems, Inc. has a twelve month low of $123.53 and a twelve month high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.23). Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The business had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. During the same period in the prior year, the company posted $1.71 earnings per share. The company's revenue was up .3% compared to the same quarter last year. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.52%. Advanced Drainage Systems's dividend payout ratio is presently 10.19%.

Analyst Upgrades and Downgrades

WMS has been the subject of several research reports. KeyCorp dropped their target price on Advanced Drainage Systems from $195.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Robert W. Baird dropped their price objective on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an "outperform" rating for the company in a report on Monday, November 11th. Barclays reduced their target price on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Oppenheimer dropped their price target on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an "outperform" rating for the company in a research note on Monday, November 11th. Finally, Stephens reiterated an "equal weight" rating and issued a $135.00 price objective (down from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $170.29.

Advanced Drainage Systems 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.