California Public Employees Retirement System Increases Stake in Advanced Drainage Systems, Inc. $WMS

California Public Employees Retirement System boosted its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 12.0% during the first quarter, HoldingsChannel reports. The fund owned 139,885 shares of the construction company’s stock after buying an additional 14,933 shares during the quarter. California Public Employees Retirement System’s holdings in Advanced Drainage Systems were worth $19,182,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in WMS. Northwestern Mutual Wealth Management Co. boosted its position in 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 worth $26,000 after purchasing an additional 176 shares during the period. SJS Investment Consulting Inc. raised its position in shares of Advanced Drainage Systems by 78.1% in the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock valued at $33,000 after purchasing an additional 107 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Advanced Drainage Systems during the 3rd quarter valued at approximately $36,000. Kestra Advisory Services LLC purchased a new stake in shares of Advanced Drainage Systems during the 4th quarter valued at approximately $37,000. Finally, Clearstead Advisors LLC boosted its holdings in Advanced Drainage Systems by 150.8% in the 4th quarter. Clearstead Advisors LLC now owns 301 shares of the construction company’s stock worth $44,000 after buying an additional 181 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WMS has been the subject of a number of recent research reports. Royal Bank Of Canada lifted their price objective on shares of Advanced Drainage Systems from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Zacks Research downgraded Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 17th. Barclays raised their price target on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. UBS Group reduced their price target on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Finally, Oppenheimer decreased their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and an average price target of $187.00.

Advanced Drainage Systems Price Performance

Shares of NYSE:WMS opened at $140.66 on Friday. The company has a 50 day moving average of $142.16 and a 200 day moving average of $148.77. The stock has a market cap of $10.78 billion, a P/E ratio of 25.86, a P/E/G ratio of 1.53 and a beta of 1.26. Advanced Drainage Systems, Inc. has a 12 month low of $110.85 and a 12 month high of $179.32. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $676.76 million for the quarter, compared to analysts’ expectations of $651.92 million. During the same period in the prior year, the company posted $1.03 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.55 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. Advanced Drainage Systems’s payout ratio is currently 14.71%.

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.