California Public Employees Retirement System Boosts Stock Holdings in Advanced Drainage Systems, Inc. $WMS

California Public Employees Retirement System lifted its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 12.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,885 shares of the construction company’s stock after acquiring an additional 14,933 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Advanced Drainage Systems worth $19,182,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Advanced Drainage Systems by 352.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after purchasing an additional 176 shares in the last quarter. SJS Investment Consulting Inc. grew its position in Advanced Drainage Systems by 78.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after purchasing an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Advanced Drainage Systems in the 3rd quarter worth about $36,000. Kestra Advisory Services LLC purchased a new stake in Advanced Drainage Systems in the 4th quarter valued at about $37,000. Finally, Clearstead Advisors LLC increased its stake in Advanced Drainage Systems by 150.8% in the 4th quarter. Clearstead Advisors LLC now owns 301 shares of the construction company’s stock valued at $44,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

NYSE WMS opened at $140.66 on Friday. The company has a market capitalization of $10.78 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 1.53 and a beta of 1.26. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.42. Advanced Drainage Systems, Inc. has a 52-week low of $110.85 and a 52-week high of $179.32. The company has a 50-day simple moving average of $142.16 and a 200 day simple moving average of $148.77.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The firm had revenue of $676.76 million for the quarter, compared to analysts’ expectations of $651.92 million. During the same period in the previous year, the company earned $1.03 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. On average, research analysts predict that Advanced Drainage Systems, Inc. will post 6.55 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.20 dividend. The ex-dividend date was Monday, June 1st. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 14.71%.

Analyst Ratings Changes

WMS has been the topic of several recent analyst reports. Zacks Research cut shares of Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 17th. UBS Group reduced their target price on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Friday, July 17th. Royal Bank Of Canada lifted their price target on Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, KeyCorp reissued an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $187.00.

Advanced Drainage Systems 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.