Vestcor Inc Takes Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Vestcor Inc acquired a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,134 shares of the construction company’s stock, valued at approximately $247,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WMS. Huntington National Bank raised its position in shares of Advanced Drainage Systems by 123.1% during the third quarter. Huntington National Bank now owns 386 shares of the construction company’s stock worth $61,000 after purchasing an additional 213 shares during the period. Millburn Ridgefield Corp boosted its position in shares of Advanced Drainage Systems by 642.4% during the third quarter. Millburn Ridgefield Corp now owns 490 shares of the construction company’s stock worth $77,000 after buying an additional 424 shares during the period. UMB Bank n.a. grew its holdings in shares of Advanced Drainage Systems by 12.7% during the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock worth $90,000 after buying an additional 88 shares in the last quarter. Spire Wealth Management acquired a new stake in Advanced Drainage Systems in the 4th quarter valued at approximately $94,000. Finally, First Horizon Advisors Inc. raised its position in Advanced Drainage Systems by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock valued at $102,000 after buying an additional 137 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Trading Up 1.1 %

Shares of NYSE:WMS opened at $110.03 on Tuesday. The company has a 50-day simple moving average of $118.34 and a 200 day simple moving average of $132.40. The company has a market capitalization of $8.54 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.98 and a current ratio of 3.21. Advanced Drainage Systems, Inc. has a 52-week low of $101.90 and a 52-week high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. Sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.16 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.58%. Advanced Drainage Systems’s dividend payout ratio is currently 10.70%.

Analyst Ratings Changes

WMS has been the subject of several research reports. Barclays decreased their price target on shares of Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Loop Capital lowered their price target on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. StockNews.com upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Stephens reiterated an “equal weight” rating and set a $135.00 target price on shares of Advanced Drainage Systems in a report on Friday, February 7th. Finally, UBS Group raised Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.25.

Advanced Drainage Systems 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.