State Board of Administration of Florida Retirement System lowered its stake in shares of Advanced Drainage Systems Inc (NYSE:WMS) by 12.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,731 shares of the construction company’s stock after selling 7,076 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Advanced Drainage Systems were worth $1,230,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Pearl River Capital LLC acquired a new stake in Advanced Drainage Systems in the 4th quarter worth about $26,000. Investors Research Corp acquired a new stake in Advanced Drainage Systems in the 1st quarter worth about $34,000. Tortoise Index Solutions LLC acquired a new stake in Advanced Drainage Systems in the 4th quarter worth about $39,000. NumerixS Investment Technologies Inc boosted its stake in Advanced Drainage Systems by 250.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the construction company’s stock worth $51,000 after buying an additional 1,500 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in Advanced Drainage Systems in the 4th quarter worth about $56,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $30.50.
In other news, EVP Ronald R. Vitarelli sold 2,500 shares of Advanced Drainage Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.47, for a total value of $63,675.00. Following the transaction, the executive vice president now directly owns 30,285 shares of the company’s stock, valued at approximately $771,358.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.97% of the company’s stock.
Shares of NYSE:WMS opened at $29.35 on Friday. The company has a current ratio of 2.24, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. Advanced Drainage Systems Inc has a 12-month low of $23.04 and a 12-month high of $33.50. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 24.06 and a beta of 1.01.
Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, May 23rd. The construction company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $272.22 million for the quarter, compared to analyst estimates of $274.41 million. Advanced Drainage Systems had a return on equity of 38.39% and a net margin of 5.39%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. Sell-side analysts expect that Advanced Drainage Systems Inc will post 1.3 earnings per share for the current year.
The company also recently disclosed a special dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a $1.00 dividend. This is a positive change from Advanced Drainage Systems’s previous special dividend of $0.08. The ex-dividend date is Friday, May 31st. Advanced Drainage Systems’s payout ratio is currently 26.23%.
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Advanced Drainage Systems Profile
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States 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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