Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 4.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 80,141 shares of the construction company’s stock after selling 3,591 shares during the period. Corebridge Financial Inc. owned 0.10% of Advanced Drainage Systems worth $9,264,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. lifted its stake in shares of Advanced Drainage Systems by 12.7% during the 4th quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock worth $90,000 after purchasing an additional 88 shares during the period. Blue Trust Inc. increased its stake in Advanced Drainage Systems by 12.0% in the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company’s stock valued at $116,000 after purchasing an additional 108 shares during the last quarter. CIBC Asset Management Inc lifted its position in Advanced Drainage Systems by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,390 shares of the construction company’s stock worth $276,000 after buying an additional 119 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Advanced Drainage Systems by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,812 shares of the construction company’s stock worth $231,000 after buying an additional 125 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings 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 period. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $111.20 on Friday. The firm’s fifty day simple moving average is $117.30 and its 200 day simple moving average is $130.56. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. Advanced Drainage Systems, Inc. has a twelve month low of $101.90 and a twelve month high of $184.27. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 1.13 and a beta of 1.61.

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

Advanced Drainage Systems Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group upgraded shares of Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Wednesday, January 8th. Loop Capital cut 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 raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Barclays cut their target price on Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Finally, Stephens reissued an “equal weight” rating and set a $135.00 price target on shares of Advanced Drainage Systems in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.25.

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.