State of Michigan Retirement System Sells 400 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

State of Michigan Retirement System lessened its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 2.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 16,400 shares of the construction company’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Advanced Drainage Systems were worth $2,630,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Advanced Drainage Systems by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock valued at $1,251,353,000 after buying an additional 395,099 shares in the last quarter. Boston Partners increased its holdings in shares of Advanced Drainage Systems by 16.9% during the 1st quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock valued at $261,609,000 after purchasing an additional 219,629 shares in the last quarter. Swedbank AB increased its holdings in shares of Advanced Drainage Systems by 2.1% during the 2nd quarter. Swedbank AB now owns 1,308,821 shares of the construction company’s stock valued at $209,922,000 after purchasing an additional 26,581 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Advanced Drainage Systems by 0.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,162,388 shares of the construction company’s stock valued at $200,210,000 after purchasing an additional 4,100 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Advanced Drainage Systems by 78.5% during the 4th quarter. KBC Group NV now owns 659,483 shares of the construction company’s stock valued at $92,750,000 after purchasing an additional 289,925 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Insider Activity at Advanced Drainage Systems

In other Advanced Drainage Systems news, CFO Scott A. Cottrill sold 73,207 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $173.11, for a total value of $12,672,863.77. Following the sale, the chief financial officer now directly owns 91,442 shares of the company’s stock, valued at approximately $15,829,524.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Advanced Drainage Systems news, EVP Michael G. Huebert sold 10,000 shares of Advanced Drainage Systems stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $172.58, for a total transaction of $1,725,800.00. Following the sale, the executive vice president now directly owns 7,225 shares in the company, valued at approximately $1,246,890.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott A. Cottrill sold 73,207 shares of Advanced Drainage Systems stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $173.11, for a total value of $12,672,863.77. Following the completion of the transaction, the chief financial officer now owns 91,442 shares of the company’s stock, valued at approximately $15,829,524.62. The disclosure for this sale can be found here. Insiders have sold a total of 87,007 shares of company stock valued at $15,047,248 over the last quarter. Insiders own 2.05% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WMS shares. Stephens lifted their price target on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. StockNews.com cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Oppenheimer reissued an “outperform” rating and issued a $192.00 price target on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. Northcoast Research initiated coverage on shares of Advanced Drainage Systems in a research note on Wednesday, May 8th. They set a “buy” rating and a $190.00 target price on the stock. Finally, Barclays lowered their price target on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $190.14.

Advanced Drainage Systems Trading Down 3.0 %

NYSE:WMS opened at $158.75 on Wednesday. The stock has a fifty day moving average price of $160.47 and a two-hundred day moving average price of $164.44. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.29 and a beta of 1.55. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89. Advanced Drainage Systems, Inc. has a 1 year low of $102.32 and a 1 year high of $184.27.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, August 30th. Advanced Drainage Systems’s payout ratio is currently 9.94%.

Advanced Drainage Systems Company Profile

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.