Mutual of America Capital Management LLC Has $6.55 Million Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Mutual of America Capital Management LLC trimmed its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 6.2% in the third quarter, Holdings Channel.com reports. The fund owned 41,672 shares of the construction company’s stock after selling 2,740 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Advanced Drainage Systems were worth $6,549,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Swedbank AB acquired a new position in Advanced Drainage Systems during the first quarter worth $220,853,000. Vanguard Group Inc. increased its position in shares of Advanced Drainage Systems by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock worth $1,251,353,000 after purchasing an additional 395,099 shares in the last quarter. Boston Partners lifted its holdings in 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 during the last quarter. Millennium Management LLC boosted its position in Advanced Drainage Systems by 136.2% in the second quarter. Millennium Management LLC now owns 312,393 shares of the construction company’s stock valued at $50,105,000 after buying an additional 180,154 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. bought a new stake in Advanced Drainage Systems during the second quarter worth about $28,870,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Loop Capital cut their target price on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Oppenheimer cut their price objective on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Robert W. Baird reduced their price objective on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. KeyCorp lowered their target price on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Barclays cut their price target on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and an average price target of $170.29.

Advanced Drainage Systems Stock Down 3.1 %

NYSE WMS opened at $129.07 on Wednesday. The stock has a market capitalization of $10.01 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 52 week low of $116.98 and a 52 week high of $184.27. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 3.19. The stock has a fifty day moving average of $149.87 and a 200-day moving average of $158.30.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.23). Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The firm had revenue of $782.60 million for the quarter, compared to the consensus estimate of $819.41 million. During the same period in the prior year, the firm posted $1.71 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 0.50%. Advanced Drainage Systems’s payout ratio is presently 10.19%.

About Advanced Drainage Systems

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.