Corebridge Financial Inc. Has $8.50 Million Stake in Advanced Drainage Systems, Inc. $WMS

Key Points

• Corebridge Financial Inc. reduced its stake in Advanced Drainage Systems by 2.3%, owning approximately 0.10% of the company after selling 1,878 shares in the first quarter.
• The stock has seen recent upgrades from various analysts, with price targets set between $133.00 and $167.00, and a consensus rating of "Moderate Buy."
• Advanced Drainage Systems announced a quarterly dividend of $0.18, representing a yield of 0.5%, with the payment scheduled for September 15th.

Corebridge Financial Inc. trimmed its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 2.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 78,263 shares of the construction company's stock after selling 1,878 shares during the period. Corebridge Financial Inc. owned approximately 0.10% of Advanced Drainage Systems worth $8,503,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WMS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Advanced Drainage Systems by 63.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,064,527 shares of the construction company's stock worth $238,659,000 after acquiring an additional 799,569 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of Advanced Drainage Systems by 14.8% during the 1st quarter. Impax Asset Management Group plc now owns 2,904,414 shares of the construction company's stock worth $314,700,000 after acquiring an additional 374,414 shares during the period. Voloridge Investment Management LLC bought a new position in shares of Advanced Drainage Systems during the 4th quarter worth about $42,160,000. Ameriprise Financial Inc. lifted its holdings in shares of Advanced Drainage Systems by 100.9% during the 4th quarter. Ameriprise Financial Inc. now owns 675,649 shares of the construction company's stock worth $78,094,000 after acquiring an additional 339,329 shares during the period. Finally, Cercano Management LLC bought a new position in shares of Advanced Drainage Systems during the 4th quarter worth about $29,840,000. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Price Performance

Shares of NYSE WMS traded down $1.26 during trading on Friday, reaching $144.19. The company had a trading volume of 532,680 shares, compared to its average volume of 969,478. Advanced Drainage Systems, Inc. has a 52 week low of $93.92 and a 52 week high of $166.03. The stock has a market cap of $11.21 billion, a PE ratio of 26.03, a PEG ratio of 1.91 and a beta of 1.26. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.25 and a current ratio of 3.22. The business's 50 day moving average price is $124.79 and its 200-day moving average price is $116.34.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its earnings results on Thursday, August 7th. The construction company reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.17. Advanced Drainage Systems had a net margin of 14.82% and a return on equity of 29.57%. The company had revenue of $829.88 million during the quarter, compared to the consensus estimate of $800.54 million. During the same period in the previous year, the firm posted $2.06 earnings per share. The company's revenue was up 1.8% on a year-over-year basis. Advanced Drainage Systems has set its FY 2026 guidance at EPS. Analysts expect that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 0.5%. Advanced Drainage Systems's payout ratio is currently 13.00%.

Analyst Ratings Changes

WMS has been the subject of a number of analyst reports. Oppenheimer reaffirmed an "outperform" rating on shares of Advanced Drainage Systems in a report on Friday, August 8th. KeyCorp lifted their price target on shares of Advanced Drainage Systems from $140.00 to $159.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Wall Street Zen raised shares of Advanced Drainage Systems from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Robert W. Baird set a $166.00 price target on shares of Advanced Drainage Systems in a report on Friday, August 8th. Finally, Barclays lifted their price target on shares of Advanced Drainage Systems from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Advanced Drainage Systems has an average rating of "Moderate Buy" and an average target price of $152.56.

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.