State of Alaska Department of Revenue Buys 220 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

State of Alaska Department of Revenue increased its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,265 shares of the construction company’s stock after acquiring an additional 220 shares during the quarter. State of Alaska Department of Revenue’s holdings in Advanced Drainage Systems were worth $897,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. bought a new position in Advanced Drainage Systems during the first quarter worth $26,000. Mascagni Wealth Management Inc. bought a new position in Advanced Drainage Systems during the fourth quarter worth $74,000. GAMMA Investing LLC increased its position in Advanced Drainage Systems by 167.1% during the first quarter. GAMMA Investing LLC now owns 812 shares of the construction company’s stock worth $88,000 after acquiring an additional 508 shares during the period. First Horizon Advisors Inc. increased its position in Advanced Drainage Systems by 18.3% during the fourth quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock worth $102,000 after acquiring an additional 137 shares during the period. Finally, Headlands Technologies LLC boosted its stake in Advanced Drainage Systems by 1,298.6% during the fourth quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company’s stock worth $118,000 after buying an additional 948 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Down 0.2%

WMS opened at $115.84 on Friday. The firm’s 50-day simple moving average is $113.77 and its 200-day simple moving average is $114.79. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.10 and a current ratio of 3.33. Advanced Drainage Systems, Inc. has a twelve month low of $93.92 and a twelve month high of $179.57. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.68 and a beta of 1.25.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, May 15th. The construction company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.06). Advanced Drainage Systems had a return on equity of 32.33% and a net margin of 15.50%. The firm had revenue of $615.76 million during the quarter, compared to the consensus estimate of $653.22 million. During the same period in the previous year, the company posted $1.23 EPS. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders of record on Friday, May 30th were issued a $0.18 dividend. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, May 30th. This represents a $0.72 annualized dividend and a dividend yield of 0.62%. Advanced Drainage Systems’s dividend payout ratio is presently 12.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WMS shares. Wall Street Zen downgraded shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Oppenheimer decreased their price target 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. Barclays lifted their price target 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. UBS Group decreased their price target on shares of Advanced Drainage Systems from $155.00 to $146.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. Finally, KeyCorp decreased their price target on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.88.

Advanced Drainage Systems Company 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.