Fernbridge Capital Management LP Has $39.85 Million Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Fernbridge Capital Management LP lifted its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 108.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 253,549 shares of the construction company’s stock after purchasing an additional 131,781 shares during the quarter. Advanced Drainage Systems makes up about 2.4% of Fernbridge Capital Management LP’s investment portfolio, making the stock its 13th largest position. Fernbridge Capital Management LP owned 0.33% of Advanced Drainage Systems worth $39,848,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WMS. West Oak Capital LLC boosted its holdings in Advanced Drainage Systems by 133.3% during the second quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. grew its position in Advanced Drainage Systems by 1,472.7% in the second quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock valued at $30,000 after acquiring an additional 162 shares during the period. National Bank of Canada FI bought a new stake in Advanced Drainage Systems in the second quarter valued at $45,000. Huntington National Bank raised its stake in 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 acquiring an additional 213 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Advanced Drainage Systems by 65.2% during the second quarter. GAMMA Investing LLC now owns 451 shares of the construction company’s stock valued at $72,000 after acquiring an additional 178 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Oppenheimer dropped their target price on shares of 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. Barclays dropped their price objective on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Loop Capital reduced their target price on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, November 11th. KeyCorp dropped their price target on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Stock Performance

WMS stock opened at $131.65 on Wednesday. The stock has a market capitalization of $10.21 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.19 and a quick ratio of 2.15. The company has a 50 day moving average price of $148.67 and a 200 day moving average price of $157.21. Advanced Drainage Systems, Inc. has a fifty-two week low of $117.97 and a fifty-two week high of $184.27.

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

Advanced Drainage Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd 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 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio (DPR) is 10.19%.

Advanced Drainage Systems Company 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.