State of Michigan Retirement System Lowers Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

State of Michigan Retirement System trimmed its holdings in Advanced Drainage Systems, Inc. (NYSE:WMSGet Rating) by 79.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,474 shares of the construction company’s stock after selling 20,596 shares during the period. State of Michigan Retirement System’s holdings in Advanced Drainage Systems were worth $681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Intrust Bank NA lifted its position in shares of Advanced Drainage Systems by 1.8% in the second quarter. Intrust Bank NA now owns 4,241 shares of the construction company’s stock valued at $382,000 after acquiring an additional 77 shares in the last quarter. Mather Group LLC. lifted its position in shares of Advanced Drainage Systems by 3.0% in the second quarter. Mather Group LLC. now owns 2,735 shares of the construction company’s stock worth $246,000 after buying an additional 80 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Advanced Drainage Systems by 3.8% in the second quarter. Prudential Financial Inc. now owns 2,238 shares of the construction company’s stock worth $203,000 after buying an additional 82 shares in the last quarter. Xponance Inc. lifted its position in shares of Advanced Drainage Systems by 1.4% in the second quarter. Xponance Inc. now owns 7,123 shares of the construction company’s stock worth $642,000 after buying an additional 95 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Advanced Drainage Systems by 19.1% in the second quarter. Van ECK Associates Corp now owns 798 shares of the construction company’s stock worth $72,000 after buying an additional 128 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Trading Up 1.8 %

Shares of NYSE WMS opened at $82.91 on Friday. The stock has a market capitalization of $6.87 billion, a P/E ratio of 15.30 and a beta of 1.30. The business’s 50 day moving average is $89.14 and its two-hundred day moving average is $110.35. Advanced Drainage Systems, Inc. has a 1-year low of $79.90 and a 1-year high of $153.36. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.07 and a quick ratio of 1.98.

Advanced Drainage Systems (NYSE:WMSGet Rating) last released its earnings results on Thursday, November 3rd. The construction company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.08). The business had revenue of $884.20 million for the quarter, compared to the consensus estimate of $928.04 million. Advanced Drainage Systems had a net margin of 14.34% and a return on equity of 51.62%. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. As a group, research analysts expect that Advanced Drainage Systems, Inc. will post 6.01 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.58%. Advanced Drainage Systems’s dividend payout ratio is 8.86%.

Wall Street Analyst Weigh In

WMS has been the topic of a number of research analyst reports. Barclays boosted their target price on Advanced Drainage Systems from $122.00 to $127.00 in a research report on Wednesday, December 14th. StockNews.com initiated coverage on Advanced Drainage Systems in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on Advanced Drainage Systems from $159.00 to $140.00 in a research report on Monday, November 7th. Robert W. Baird reduced their price objective on Advanced Drainage Systems from $168.00 to $121.00 in a research note on Friday, November 4th. Finally, Morgan Stanley reduced their price objective on Advanced Drainage Systems from $152.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, November 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and a consensus price target of $126.40.

Insider Activity

In other news, SVP Michael G. Huebert sold 1,033 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $94.02, for a total transaction of $97,122.66. Following the transaction, the senior vice president now owns 49,729 shares of the company’s stock, valued at $4,675,520.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Robert M. Klein sold 33,840 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $82.61, for a total value of $2,795,522.40. Following the transaction, the executive vice president now owns 98,775 shares of the company’s stock, valued at $8,159,802.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael G. Huebert sold 1,033 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $94.02, for a total value of $97,122.66. Following the completion of the transaction, the senior vice president now directly owns 49,729 shares in the company, valued at approximately $4,675,520.58. The disclosure for this sale can be found here. Insiders own 9.33% of the company’s stock.

About Advanced Drainage Systems

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Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the underground construction and infrastructure marketplace in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.

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Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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