Thrivent Financial for Lutherans Sells 87,799 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Thrivent Financial for Lutherans reduced its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,294,936 shares of the construction company’s stock after selling 87,799 shares during the period. Thrivent Financial for Lutherans owned 1.67% of Advanced Drainage Systems worth $203,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WMS. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Advanced Drainage Systems by 319.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock worth $26,000 after acquiring an additional 115 shares during the period. West Oak Capital LLC raised its holdings in Advanced Drainage Systems by 133.3% during the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Advanced Drainage Systems by 1,472.7% in the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock worth $30,000 after purchasing an additional 162 shares during the period. National Bank of Canada FI bought a new stake in shares of Advanced Drainage Systems in the 2nd quarter valued at $45,000. Finally, Huntington National Bank increased its position in shares of Advanced Drainage Systems by 123.1% during the third quarter. Huntington National Bank now owns 386 shares of the construction company’s stock worth $61,000 after buying an additional 213 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. KeyCorp cut their price target on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Barclays cut their target price on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Loop Capital lowered their target price on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, November 11th. Oppenheimer cut their price target on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Finally, Stephens reiterated an “equal weight” rating and issued a $135.00 price objective (down previously from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.29.

Advanced Drainage Systems Price Performance

Shares of WMS opened at $131.42 on Friday. The business’s fifty day moving average is $150.26 and its 200 day moving average is $158.76. Advanced Drainage Systems, Inc. has a 12-month low of $116.98 and a 12-month high of $184.27. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97. The stock has a market cap of $10.19 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.19 and a beta of 1.53.

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

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 10.19%.

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.