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

Corebridge Financial Inc. trimmed its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 4.3% during the fourth quarter, Holdings Channel reports. The fund owned 80,141 shares of the construction company’s stock after selling 3,591 shares during the quarter. Corebridge Financial Inc.’s holdings in Advanced Drainage Systems were worth $9,264,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its holdings in Advanced Drainage Systems by 8.8% during the 3rd quarter. State Street Corp now owns 2,541,688 shares of the construction company’s stock worth $399,452,000 after purchasing an additional 206,105 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Advanced Drainage Systems by 50.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 96,764 shares of the construction company’s stock worth $11,186,000 after acquiring an additional 32,418 shares in the last quarter. Zacks Investment Management bought a new stake in shares of Advanced Drainage Systems in the 3rd quarter valued at approximately $2,694,000. KBC Group NV raised its position in shares of Advanced Drainage Systems by 21.2% during the 4th quarter. KBC Group NV now owns 738,749 shares of the construction company’s stock valued at $85,399,000 after acquiring an additional 129,252 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Advanced Drainage Systems by 5.2% during the third quarter. Geode Capital Management LLC now owns 1,186,878 shares of the construction company’s stock worth $186,578,000 after purchasing an additional 59,158 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $111.20 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98. Advanced Drainage Systems, Inc. has a 12-month low of $101.90 and a 12-month high of $184.27. The business has a 50 day simple moving average of $117.30 and a 200 day simple moving average of $130.56. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results 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 net margin of 15.90% and a return on equity of 35.79%. On average, equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

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

Wall Street Analyst Weigh In

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