Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,254 shares of the construction company's stock after selling 2,203 shares during the quarter. New York State Teachers Retirement System owned about 0.06% of Advanced Drainage Systems worth $4,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. KBC Group NV boosted its holdings in shares of Advanced Drainage Systems by 18.3% during the 1st quarter. KBC Group NV now owns 874,219 shares of the construction company's stock valued at $94,984,000 after acquiring an additional 135,470 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Advanced Drainage Systems by 15.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,914 shares of the construction company's stock valued at $2,061,000 after acquiring an additional 2,559 shares during the last quarter. Perpetual Ltd boosted its holdings in shares of Advanced Drainage Systems by 28.1% in the first quarter. Perpetual Ltd now owns 102,330 shares of the construction company's stock worth $11,118,000 after buying an additional 22,445 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Advanced Drainage Systems by 76.2% in the first quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock worth $29,000 after buying an additional 115 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Advanced Drainage Systems by 81.1% in the first quarter. Oppenheimer & Co. Inc. now owns 12,990 shares of the construction company's stock worth $1,411,000 after buying an additional 5,818 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Trading Up 2.4%

NYSE WMS traded up $2.92 on Thursday, hitting $122.41. 735,032 shares of the stock were exchanged, compared to its average volume of 630,203. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.10 and a current ratio of 3.33. The stock has a fifty day moving average price of $115.42 and a two-hundred day moving average price of $114.49. The firm has a market capitalization of $9.50 billion, a P/E ratio of 21.25, a P/E/G ratio of 1.73 and a beta of 1.24. Advanced Drainage Systems, Inc. has a 52-week low of $93.92 and a 52-week high of $179.57.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its earnings results on Thursday, May 15th. The construction company reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.09 by ($0.06). The company had revenue of $615.76 million for the quarter, compared to analysts' expectations of $653.22 million. Advanced Drainage Systems had a net margin of 15.50% and a return on equity of 32.33%. The firm's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 earnings per share. Research analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, May 30th. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 0.59%. Advanced Drainage Systems's payout ratio is currently 12.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WMS shares. Oppenheimer decreased their target price on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. UBS Group reduced their price objective on shares of Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Barclays lifted their price objective on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Loop Capital reduced their price objective on shares of Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Advanced Drainage Systems in a research report on Tuesday, April 1st. They set a "buy" rating and a $134.00 price objective on the stock. 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.