State of Michigan Retirement System Increases Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

State of Michigan Retirement System increased its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 2.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,800 shares of the construction company’s stock after buying an additional 400 shares during the period. State of Michigan Retirement System’s holdings in Advanced Drainage Systems were worth $2,894,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in Advanced Drainage Systems during the fourth quarter worth $27,000. GAMMA Investing LLC purchased a new stake in Advanced Drainage Systems during the fourth quarter worth $28,000. Rise Advisors LLC purchased a new stake in Advanced Drainage Systems during the first quarter worth $32,000. Avalon Trust Co purchased a new stake in Advanced Drainage Systems during the fourth quarter worth $38,000. Finally, ORG Partners LLC purchased a new stake in Advanced Drainage Systems during the fourth quarter worth $60,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Price Performance

Shares of NYSE WMS opened at $155.92 on Thursday. The firm has a 50-day simple moving average of $168.01 and a 200-day simple moving average of $157.64. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.55. The company has a quick ratio of 1.90, a current ratio of 2.96 and a debt-to-equity ratio of 1.13. Advanced Drainage Systems, Inc. has a 52 week low of $102.32 and a 52 week high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, May 16th. The construction company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.28. The business had revenue of $653.80 million during the quarter, compared to analysts’ expectations of $611.99 million. Advanced Drainage Systems had a net margin of 17.74% and a return on equity of 46.93%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 earnings per share. On average, equities analysts predict that Advanced Drainage Systems, Inc. will post 7.17 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.16 per share. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, May 31st. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 9.94%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. KeyCorp increased their price objective on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Barclays increased their price objective on shares of Advanced Drainage Systems from $189.00 to $202.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Northcoast Research assumed coverage on shares of Advanced Drainage Systems in a report on Wednesday, May 8th. They set a “buy” rating and a $190.00 price objective on the stock. Stephens increased their price objective on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Finally, StockNews.com raised shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and an average price target of $181.88.

Insider Buying and Selling

In related news, insider D. Scott Barbour sold 85,938 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $174.10, for a total transaction of $14,961,805.80. Following the completion of the sale, the insider now directly owns 45,994 shares in the company, valued at $8,007,555.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Robert M. Klein sold 3,059 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $175.95, for a total transaction of $538,231.05. Following the completion of the sale, the executive vice president now directly owns 102,070 shares in the company, valued at $17,959,216.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider D. Scott Barbour sold 85,938 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $174.10, for a total transaction of $14,961,805.80. Following the transaction, the insider now directly owns 45,994 shares of the company’s stock, valued at approximately $8,007,555.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,004 shares of company stock worth $30,547,285. Insiders own 2.05% of the company’s stock.

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 construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.