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

Fernbridge Capital Management LP acquired a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 121,768 shares of the construction company’s stock, valued at approximately $19,530,000. Advanced Drainage Systems accounts for 1.3% of Fernbridge Capital Management LP’s portfolio, making the stock its 21st biggest holding.

A number of other large investors also recently modified their holdings of WMS. Norges Bank bought a new stake in Advanced Drainage Systems during the fourth quarter valued at $88,640,000. UBS Group AG grew its holdings in shares of Advanced Drainage Systems by 18.9% during the fourth quarter. UBS Group AG now owns 71,013 shares of the construction company’s stock worth $9,987,000 after purchasing an additional 11,305 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Advanced Drainage Systems by 3.3% in the fourth quarter. Hsbc Holdings PLC now owns 119,859 shares of the construction company’s stock worth $16,915,000 after purchasing an additional 3,800 shares during the last quarter. Chesapeake Capital Corp IL bought a new position in shares of Advanced Drainage Systems in the fourth quarter worth approximately $993,000. Finally, Stifel Financial Corp raised its stake in Advanced Drainage Systems by 3.4% in the fourth quarter. Stifel Financial Corp now owns 360,660 shares of the construction company’s stock valued at $50,724,000 after purchasing an additional 11,720 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Trading Down 2.0 %

Shares of WMS stock opened at $152.45 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The business has a 50-day moving average of $156.10 and a 200 day moving average of $162.61. The stock has a market capitalization of $11.82 billion, a PE ratio of 23.67, a P/E/G ratio of 1.26 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 1-year low of $102.32 and a 1-year high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results 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 firm had revenue of $815.34 million for the quarter, compared to analysts’ expectations of $828.00 million. As a group, sell-side 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 of this dividend was Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.42%. Advanced Drainage Systems’s payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

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

Advanced Drainage Systems 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.