Retirement Systems of Alabama Trims Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Retirement Systems of Alabama lessened its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,867 shares of the construction company’s stock after selling 598 shares during the quarter. Retirement Systems of Alabama owned about 0.11% of Advanced Drainage Systems worth $12,076,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Contravisory Investment Management Inc. acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at $27,000. GAMMA Investing LLC acquired a new stake in shares of Advanced Drainage Systems during the 4th quarter worth about $28,000. NBC Securities Inc. purchased a new stake in shares of Advanced Drainage Systems during the third quarter worth about $25,000. ORG Partners LLC acquired a new position in shares of Advanced Drainage Systems in the fourth quarter valued at approximately $60,000. Finally, Headlands Technologies LLC purchased a new position in shares of Advanced Drainage Systems during the third quarter valued at approximately $82,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. KeyCorp boosted their price target on Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, February 9th. StockNews.com upgraded Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research report on Wednesday. Stephens lifted their price target on Advanced Drainage Systems from $138.00 to $182.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Finally, Oppenheimer increased their price objective on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $159.13.

Insider Buying and Selling at Advanced Drainage Systems

In other news, EVP Michael G. Huebert sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total value of $1,635,200.00. Following the completion of the sale, the executive vice president now owns 13,450 shares of the company’s stock, valued at $2,199,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Advanced Drainage Systems news, Director Ross M. Jones sold 762,895 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total value of $124,351,885.00. Following the transaction, the director now owns 70,749 shares in the company, valued at approximately $11,532,087. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael G. Huebert sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total value of $1,635,200.00. Following the sale, the executive vice president now owns 13,450 shares of the company’s stock, valued at $2,199,344. The disclosure for this sale can be found here. 3.79% of the stock is currently owned by corporate insiders.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock opened at $158.52 on Thursday. The company has a market cap of $12.30 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 1.38 and a beta of 1.51. Advanced Drainage Systems, Inc. has a 12 month low of $81.25 and a 12 month high of $176.31. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 2.04. The stock’s 50-day moving average is $164.51 and its 200-day moving average is $141.32.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, February 8th. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $0.93 by $0.44. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The firm had revenue of $662.37 million for the quarter, compared to analyst estimates of $632.69 million. During the same quarter last year, the firm posted $0.99 earnings per share. Advanced Drainage Systems’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Advanced Drainage Systems, Inc. will post 6.09 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.14 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.56 annualized dividend and a yield of 0.35%. Advanced Drainage Systems’s dividend payout ratio is currently 8.90%.

Advanced Drainage Systems Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.