Fernbridge Capital Management LP Buys 131,781 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Fernbridge Capital Management LP grew its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 108.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,549 shares of the construction company’s stock after buying an additional 131,781 shares during the period. Advanced Drainage Systems makes up 2.4% of Fernbridge Capital Management LP’s portfolio, making the stock its 13th biggest position. Fernbridge Capital Management LP’s holdings in Advanced Drainage Systems were worth $39,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of WMS. Boston Partners grew its holdings in Advanced Drainage Systems by 16.9% during the first 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 period. William Blair Investment Management LLC increased its position in shares of Advanced Drainage Systems by 4.7% in the 2nd quarter. William Blair Investment Management LLC now owns 1,430,091 shares of the construction company’s stock valued at $229,372,000 after buying an additional 64,618 shares in the last quarter. Swedbank AB lifted its holdings in Advanced Drainage Systems by 5.8% during the third quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock worth $217,553,000 after acquiring an additional 75,455 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Advanced Drainage Systems by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 1,382,735 shares of the construction company’s stock worth $221,777,000 after acquiring an additional 7,690 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Advanced Drainage Systems by 13.9% in the second quarter. Dimensional Fund Advisors LP now owns 772,588 shares of the construction company’s stock valued at $123,920,000 after acquiring an additional 94,019 shares during the period. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Price Performance

NYSE:WMS opened at $131.65 on Wednesday. Advanced Drainage Systems, Inc. has a 52-week low of $117.97 and a 52-week high of $184.27. The company has a market cap of $10.21 billion, a P/E ratio of 20.96, a P/E/G ratio of 1.22 and a beta of 1.53. 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’s 50-day simple moving average is $148.67 and its 200 day simple moving average is $157.21.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate 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 company had revenue of $782.60 million during the quarter, compared to analyst estimates of $819.41 million. During the same period in the previous year, the company posted $1.71 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current fiscal 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 issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems’s payout ratio is currently 10.19%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. KeyCorp cut their price objective on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Stephens reaffirmed an “equal weight” rating and issued a $135.00 price target (down previously from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. Loop Capital reduced their price target on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, November 11th. Robert W. Baird dropped their price objective on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Finally, Barclays lowered their target price 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 equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $170.29.

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.