New York State Common Retirement Fund raised its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 100.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 139,257 shares of the construction company’s stock after buying an additional 69,922 shares during the quarter. New York State Common Retirement Fund owned about 0.20% of Advanced Drainage Systems worth $8,695,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Advanced Drainage Systems by 6.3% in the second quarter. Vanguard Group Inc. now owns 4,527,619 shares of the construction company’s stock valued at $223,665,000 after acquiring an additional 269,088 shares during the last quarter. Beck Mack & Oliver LLC boosted its stake in shares of Advanced Drainage Systems by 1.5% in the second quarter. Beck Mack & Oliver LLC now owns 1,078,170 shares of the construction company’s stock worth $53,262,000 after acquiring an additional 16,184 shares during the period. Victory Capital Management Inc. boosted its stake in Advanced Drainage Systems by 6,065.5% during the second quarter. Victory Capital Management Inc. now owns 1,031,001 shares of the construction company’s stock valued at $50,931,000 after buying an additional 1,014,279 shares during the last quarter. FIL Ltd boosted its stake in Advanced Drainage Systems by 4.0% during the second quarter. FIL Ltd now owns 963,066 shares of the construction company’s stock valued at $47,575,000 after buying an additional 37,043 shares during the last quarter. Finally, State Street Corp boosted its stake in Advanced Drainage Systems by 5.3% during the first quarter. State Street Corp now owns 921,285 shares of the construction company’s stock valued at $27,123,000 after buying an additional 46,407 shares during the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.

A number of equities analysts have weighed in on WMS shares. Zacks Investment Research lowered Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Saturday, November 14th. Barclays boosted their target price on Advanced Drainage Systems from $64.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. They noted that the move was a valuation call. Loop Capital boosted their target price on Advanced Drainage Systems from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their target price on Advanced Drainage Systems from $49.00 to $53.00 and gave the company an “underweight” rating in a research report on Friday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $60.50.

In other Advanced Drainage Systems news, Director Mark Haney sold 10,000 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $64.40, for a total transaction of $644,000.00. Following the transaction, the director now directly owns 28,313 shares in the company, valued at approximately $1,823,357.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Darin S. Harvey sold 8,066 shares of the stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $63.54, for a total value of $512,513.64. Following the transaction, the executive vice president now owns 10,958 shares in the company, valued at $696,271.32. The disclosure for this sale can be found here. Insiders sold 353,422 shares of company stock worth $22,884,064 over the last quarter. 20.74% of the stock is currently owned by company insiders.

NYSE WMS opened at $68.62 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.82 and a debt-to-equity ratio of 1.81. Advanced Drainage Systems, Inc. has a 12-month low of $22.13 and a 12-month high of $72.51. The company has a market capitalization of $4.84 billion, a PE ratio of 56.25, a price-to-earnings-growth ratio of 0.57 and a beta of 1.43. The firm’s 50 day moving average is $66.46 and its 200-day moving average is $54.35.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Tuesday, November 10th. The construction company reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.11). Advanced Drainage Systems had a net margin of 5.71% and a return on equity of 19.10%. The business had revenue of $544.20 million during the quarter, compared to analyst estimates of $535.82 million. During the same quarter last year, the business earned $0.10 earnings per share. Advanced Drainage Systems’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 2.55 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.52%. The ex-dividend date is Monday, November 30th. Advanced Drainage Systems’s payout ratio is presently -11.21%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the underground construction and infrastructure marketplace in the United States, Canada, and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

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Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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