California State Teachers Retirement System Boosts Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

California State Teachers Retirement System raised its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,651 shares of the construction company's stock after buying an additional 2,601 shares during the quarter. California State Teachers Retirement System owned approximately 0.09% of Advanced Drainage Systems worth $7,936,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Spire Wealth Management purchased a new position in Advanced Drainage Systems in the fourth quarter worth approximately $94,000. First Horizon Advisors Inc. lifted its stake in shares of Advanced Drainage Systems by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock valued at $102,000 after purchasing an additional 137 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Advanced Drainage Systems by 12.0% during the 4th quarter. Blue Trust Inc. now owns 1,005 shares of the construction company's stock worth $116,000 after purchasing an additional 108 shares during the period. Headlands Technologies LLC increased its position in shares of Advanced Drainage Systems by 1,298.6% during the 4th quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company's stock worth $118,000 after purchasing an additional 948 shares during the last quarter. Finally, State of Wyoming raised its holdings in Advanced Drainage Systems by 574.6% in the 4th quarter. State of Wyoming now owns 1,302 shares of the construction company's stock valued at $151,000 after buying an additional 1,109 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Up 2.3%

NYSE:WMS traded up $2.51 during midday trading on Wednesday, reaching $113.25. The company had a trading volume of 606,692 shares, compared to its average volume of 605,662. Advanced Drainage Systems, Inc. has a 12-month low of $93.92 and a 12-month high of $179.57. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.13 and a beta of 1.26. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. The stock's fifty day simple moving average is $110.21 and its 200-day simple moving average is $116.59.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The construction company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.06). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. The company had revenue of $615.76 million during the quarter, compared to analysts' expectations of $653.22 million. During the same quarter in the previous year, the business posted $1.23 EPS. The business's quarterly revenue was down 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.64%. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.16. Advanced Drainage Systems's payout ratio is presently 12.50%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays increased their target price on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Stephens reaffirmed an "equal weight" rating and set a $135.00 price objective on shares of Advanced Drainage Systems in a research report on Friday, February 7th. Loop Capital decreased their price target on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Oppenheimer lowered their price target on Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Finally, KeyCorp cut their price objective on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $139.88.

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.