California Public Employees Retirement System Sells 26,336 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

California Public Employees Retirement System lessened its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 21.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,194 shares of the construction company’s stock after selling 26,336 shares during the period. California Public Employees Retirement System owned 0.13% of Advanced Drainage Systems worth $11,467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in shares of Advanced Drainage Systems by 12.7% during the 4th quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock worth $90,000 after buying an additional 88 shares during the last quarter. Spire Wealth Management bought a new position in Advanced Drainage Systems in the 4th quarter valued at about $94,000. First Horizon Advisors Inc. lifted 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 last quarter. Blue Trust Inc. boosted its holdings in shares of Advanced Drainage Systems by 12.0% during the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company’s stock worth $116,000 after acquiring an additional 108 shares during the period. Finally, Everence Capital Management Inc. bought a new stake in shares of Advanced Drainage Systems during the fourth quarter worth approximately $230,000. 89.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

WMS has been the topic of a number of recent research reports. Loop Capital lowered their target price on Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. StockNews.com downgraded Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Advanced Drainage Systems in a research report on Tuesday, April 1st. They issued a “buy” rating and a $134.00 target price for the company. Barclays lowered their price target on shares of Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Finally, Stephens reissued an “equal weight” rating and issued a $135.00 price objective on shares of Advanced Drainage Systems in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and a consensus target price of $160.89.

Advanced Drainage Systems Stock Performance

Shares of Advanced Drainage Systems stock opened at $100.82 on Friday. The company has a 50 day moving average of $115.03 and a 200-day moving average of $128.85. The company has a market cap of $7.82 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. Advanced Drainage Systems, Inc. has a 1-year low of $95.39 and a 1-year high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. As a group, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio is 10.70%.

Advanced Drainage Systems 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.