New York State Common Retirement Fund Increases Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

New York State Common Retirement Fund raised its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 14.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 161,525 shares of the construction company’s stock after buying an additional 20,390 shares during the period. New York State Common Retirement Fund owned about 0.21% of Advanced Drainage Systems worth $25,385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WMS. Norden Group LLC acquired a new stake in shares of Advanced Drainage Systems in the first quarter valued at $353,000. BNP Paribas Financial Markets raised its position in Advanced Drainage Systems by 63.3% in the 1st quarter. BNP Paribas Financial Markets now owns 74,851 shares of the construction company’s stock valued at $12,892,000 after purchasing an additional 29,025 shares during the last quarter. Tobam acquired a new stake in shares of Advanced Drainage Systems during the first quarter worth about $56,000. Nordea Investment Management AB lifted its position in Advanced Drainage Systems by 10.3% during the 1st quarter. Nordea Investment Management AB now owns 121,851 shares of the construction company’s stock worth $21,178,000 after acquiring an additional 11,423 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in Advanced Drainage Systems by 75.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 15,910 shares of the construction company’s stock valued at $2,741,000 after buying an additional 6,860 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

WMS has been the topic of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and set a $192.00 price objective on shares of Advanced Drainage Systems in a report on Thursday, August 15th. Robert W. Baird reduced their price target on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Loop Capital decreased their target price on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. StockNews.com cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Barclays lowered their target price on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $190.14.

Advanced Drainage Systems Stock Performance

WMS stock opened at $149.64 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The stock has a market capitalization of $11.60 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.27 and a beta of 1.53. The company has a 50 day moving average price of $152.14 and a 200 day moving average price of $159.90. Advanced Drainage Systems, Inc. has a fifty-two week low of $104.16 and a fifty-two week high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.98 by $0.08. The business had revenue of $815.34 million for the quarter, compared to analysts’ expectations of $828.00 million. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. Analysts forecast that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, August 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 10.13%.

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.