Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,907 shares of the construction company’s stock after selling 1,678 shares during the period. Retirement Systems of Alabama’s holdings in Advanced Drainage Systems were worth $16,505,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Advanced Drainage Systems by 319.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after acquiring an additional 115 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Advanced Drainage Systems in the 4th quarter valued at about $28,000. West Oak Capital LLC grew its stake in Advanced Drainage Systems by 133.3% during the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Blue Trust Inc. increased its position in Advanced Drainage Systems by 1,472.7% during the second quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock worth $30,000 after buying an additional 162 shares during the period. Finally, Rise Advisors LLC acquired a new position in Advanced Drainage Systems during the first quarter worth approximately $32,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Northcoast Research began coverage on Advanced Drainage Systems in a report on Wednesday, May 8th. They issued a “buy” rating and a $190.00 price objective for the company. KeyCorp raised their price objective on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Stephens lifted their price objective on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Oppenheimer reiterated an “outperform” rating and set a $192.00 target price on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. Finally, Robert W. Baird lowered their price target on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $190.14.

Advanced Drainage Systems Stock Up 4.0 %

Shares of Advanced Drainage Systems stock opened at $163.22 on Friday. The company has a market cap of $12.65 billion, a P/E ratio of 25.34, a PEG ratio of 1.29 and a beta of 1.55. The firm has a fifty day moving average of $161.06 and a two-hundred day moving average of $164.24. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89. Advanced Drainage Systems, Inc. has a one year low of $102.32 and a one year high of $184.27.

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.16 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.39%. Advanced Drainage Systems’s payout ratio is currently 9.94%.

Insider Buying and Selling at Advanced Drainage Systems

In other news, insider Tim A. Makowski sold 3,800 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $170.68, for a total transaction of $648,584.00. Following the completion of the transaction, the insider now directly owns 4,530 shares of the company’s stock, valued at approximately $773,180.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Advanced Drainage Systems news, insider Tim A. Makowski sold 3,800 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $170.68, for a total transaction of $648,584.00. Following the sale, the insider now directly owns 4,530 shares in the company, valued at approximately $773,180.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael G. Huebert sold 10,000 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $172.58, for a total transaction of $1,725,800.00. Following the transaction, the executive vice president now directly owns 7,225 shares in the company, valued at $1,246,890.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,007 shares of company stock valued at $15,047,248. 2.05% of the stock is owned by corporate insiders.

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.