Fernbridge Capital Management LP Buys New Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Fernbridge Capital Management LP purchased a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 121,768 shares of the construction company’s stock, valued at approximately $19,530,000. Advanced Drainage Systems makes up approximately 1.3% of Fernbridge Capital Management LP’s holdings, making the stock its 21st biggest holding. Fernbridge Capital Management LP owned 0.16% of Advanced Drainage Systems at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Advanced Drainage Systems by 319.4% in the 1st 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 in the last quarter. Blue Trust Inc. grew its position in 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 in the last quarter. West Oak Capital LLC grew its position in Advanced Drainage Systems by 133.3% in 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 in the last quarter. Rise Advisors LLC purchased a new stake in Advanced Drainage Systems in the 1st quarter valued at about $32,000. Finally, GAMMA Investing LLC lifted its position in shares of Advanced Drainage Systems by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 273 shares of the construction company’s stock worth $47,000 after buying an additional 62 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Advanced Drainage Systems Trading Down 2.0 %

Shares of WMS opened at $152.45 on Friday. Advanced Drainage Systems, Inc. has a fifty-two week low of $102.32 and a fifty-two week high of $184.27. The business has a 50-day moving average of $156.10 and a 200 day moving average of $162.61. The firm has a market cap of $11.82 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.53. 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 (NYSE:WMS) last posted its earnings results on Thursday, August 8th. The construction company reported $2.06 earnings per share 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 firm had revenue of $815.34 million during the quarter, compared to the consensus estimate of $828.00 million. As a group, research analysts forecast that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed 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 0.42%. Advanced Drainage Systems’s dividend payout ratio is 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.