VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Holdings in Advanced Drainage Systems, Inc. $WMS

Key Points

• Virginia Retirement Systems bought 21,004 shares of Advanced Drainage Systems valued at approximately $3.3 million, while institutional investors collectively own 89.83% of the company.
• Advanced Drainage Systems exceeded quarterly expectations with EPS of $2.49 versus $2.10 forecast and revenue of about $1 billion, up 20.6% year over year.
• WMS shares opened at $132.23, near their 12-month low, while analysts maintain a “Moderate Buy” consensus with an average price target of $188.70; the company also declared a quarterly dividend of $0.20 per share.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 21,004 shares of the construction company's stock, valued at approximately $3,297,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. HighTower Advisors LLC grew its holdings in Advanced Drainage Systems by 406.0% in the 4th quarter. HighTower Advisors LLC now owns 27,302 shares of the construction company's stock valued at $3,954,000 after buying an additional 21,906 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Advanced Drainage Systems during the 2nd quarter worth approximately $1,172,482,000. Pictet Asset Management Holding SA increased its holdings in shares of Advanced Drainage Systems by 32.9% during the first quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company's stock worth $302,290,000 after purchasing an additional 546,298 shares during the period. Norges Bank acquired a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at approximately $156,587,000. Finally, Weiss Asset Management LP bought a new stake in shares of Advanced Drainage Systems in the first quarter valued at approximately $5,170,000. Institutional investors and hedge funds own 89.83% of the company's stock.

Advanced Drainage Systems Stock Down 1.1%

WMS stock opened at $132.23 on Thursday. The firm has a 50-day moving average price of $143.37 and a 200-day moving average price of $144.19. Advanced Drainage Systems, Inc. has a 12 month low of $128.03 and a 12 month high of $179.32. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $9.97 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 1.46 and a beta of 1.28.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.10 by $0.39. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $991.39 million. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The firm's quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.95 EPS. As a group, equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.6%. Advanced Drainage Systems's payout ratio is currently 13.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Robert W. Baird set a $206.00 price objective on Advanced Drainage Systems in a research note on Friday, August 7th. Jefferies Financial Group initiated coverage on Advanced Drainage Systems in a report on Thursday, June 11th. They set a "buy" rating and a $175.00 target price on the stock. Stephens upgraded Advanced Drainage Systems from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $190.00 to $175.00 in a research report on Wednesday, May 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Advanced Drainage Systems in a research note on Friday, July 17th. Finally, Zacks Research raised shares of Advanced Drainage Systems from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $188.70.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc NYSE: WMS is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company's product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.

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