Advanced Drainage Systems, Inc. (NYSE:WMS) Stake Lowered by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,672 shares of the construction company’s stock after selling 2,740 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Advanced Drainage Systems worth $6,549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE increased its position in Advanced Drainage Systems by 11.8% in the 1st quarter. US Bancorp DE now owns 2,475 shares of the construction company’s stock worth $426,000 after purchasing an additional 262 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings 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 worth $26,000 after buying an additional 115 shares during the last quarter. Vanguard Group Inc. raised its position in Advanced Drainage Systems by 5.8% during the first quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock valued at $1,251,353,000 after acquiring an additional 395,099 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Advanced Drainage Systems in the first quarter valued at approximately $384,000. Finally, O Shaughnessy Asset Management LLC grew its position in Advanced Drainage Systems by 16.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,610 shares of the construction company’s stock worth $450,000 after acquiring an additional 361 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WMS has been the topic of a number of recent research reports. Loop Capital cut their price target on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Barclays reduced their price target on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. KeyCorp cut their price objective on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Robert W. Baird decreased their target price on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Finally, Stephens reiterated an “equal weight” rating and set a $135.00 price target (down previously from $170.00) on shares of Advanced Drainage Systems in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Stock Down 3.1 %

Shares of WMS stock opened at $129.07 on Wednesday. The stock has a 50 day moving average of $149.87 and a 200-day moving average of $158.30. The firm has a market cap of $10.01 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97. Advanced Drainage Systems, Inc. has a 12 month low of $116.98 and a 12 month high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.23). The company had revenue of $782.60 million during the quarter, compared to analyst estimates of $819.41 million. Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.71 earnings per share. On average, equities analysts predict that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.16 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.64 annualized dividend and a yield of 0.50%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 10.19%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.