20,800 Shares in Advanced Drainage Systems, Inc. $WMS Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,800 shares of the construction company’s stock, valued at approximately $2,852,000.

A number of other large investors also recently added to or reduced their stakes in WMS. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Advanced Drainage Systems by 352.0% during the 2nd 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 during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Advanced Drainage Systems in the third quarter worth about $36,000. Kestra Advisory Services LLC purchased a new stake in shares of Advanced Drainage Systems in the fourth quarter worth about $37,000. Los Angeles Capital Management LLC purchased a new stake in shares of Advanced Drainage Systems in the fourth quarter worth about $42,000. Finally, Clearstead Advisors LLC boosted its stake in Advanced Drainage Systems by 150.8% during the fourth 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. 89.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WMS. Royal Bank Of Canada raised their target price on shares of Advanced Drainage Systems from $168.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Jefferies Financial Group began coverage on shares of Advanced Drainage Systems in a research note on Thursday, June 11th. They set a “buy” rating and a $175.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Monday, April 20th. Oppenheimer reduced their target price on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday, May 26th. Finally, 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. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Advanced Drainage Systems Stock Performance

Shares of NYSE:WMS opened at $154.77 on Monday. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.66 and a beta of 1.29. Advanced Drainage Systems, Inc. has a 12 month low of $109.63 and a 12 month high of $179.32. The firm’s 50-day moving average is $141.73 and its 200 day moving average is $148.68. 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 quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 earnings per share for the quarter, topping 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 company had revenue of $676.76 million for the quarter, compared to analyst estimates of $651.92 million. During the same period in the prior year, the company posted $1.03 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Research analysts predict that Advanced Drainage Systems, Inc. will post 6.55 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.20 per share. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.5%. Advanced Drainage Systems’s payout ratio is 14.71%.

About Advanced Drainage Systems

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.