State of New Jersey Common Pension Fund D Has $3.96 Million Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

State of New Jersey Common Pension Fund D cut its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 38.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,712 shares of the construction company’s stock after selling 15,691 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Advanced Drainage Systems were worth $3,964,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in WMS. Truist Financial Corp bought a new position in shares of Advanced Drainage Systems during the 4th quarter valued at $212,000. Dimensional Fund Advisors LP raised its holdings in shares of Advanced Drainage Systems by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 633,392 shares of the construction company’s stock valued at $89,086,000 after purchasing an additional 15,690 shares in the last quarter. Great Lakes Advisors LLC bought a new position in shares of Advanced Drainage Systems during the 4th quarter valued at $310,000. Financial Advocates Investment Management bought a new position in shares of Advanced Drainage Systems during the 4th quarter valued at $269,000. Finally, Level Four Advisory Services LLC bought a new position in shares of Advanced Drainage Systems during the 4th quarter valued at $456,000. 89.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WMS has been the topic of a number of recent research reports. Robert W. Baird cut their price target on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Loop Capital dropped their target price on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Oppenheimer reiterated an “outperform” rating and issued a $192.00 target price on shares of Advanced Drainage Systems in a report on Thursday, August 15th. Barclays dropped their target price on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com downgraded shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and an average price target of $190.14.

Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $148.34 on Tuesday. The firm’s 50-day moving average is $156.69 and its 200-day moving average is $162.93. Advanced Drainage Systems, Inc. has a 52-week low of $102.32 and a 52-week high of $184.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89. The company has a market cap of $11.50 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.22 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.08. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The company had revenue of $815.34 million for the quarter, compared to the consensus estimate of $828.00 million. Equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.95 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.16 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.43%. Advanced Drainage Systems’s payout ratio is currently 9.94%.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.