BlueMountain Capital Management LLC raised its stake in shares of Advanced Drainage Systems Inc (NYSE:WMS) by 36.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,598 shares of the construction company’s stock after acquiring an additional 10,736 shares during the quarter. BlueMountain Capital Management LLC owned approximately 0.07% of Advanced Drainage Systems worth $1,159,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Investors Inc. PA grew its position in shares of Advanced Drainage Systems by 474.9% during the 2nd quarter. Federated Investors Inc. PA now owns 349,469 shares of the construction company’s stock worth $9,977,000 after buying an additional 288,684 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Advanced Drainage Systems by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,009,560 shares of the construction company’s stock valued at $28,823,000 after purchasing an additional 184,617 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Advanced Drainage Systems by 30.4% during the 2nd quarter. BlackRock Inc. now owns 3,099,765 shares of the construction company’s stock valued at $88,498,000 after purchasing an additional 723,150 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Advanced Drainage Systems during the 2nd quarter valued at about $1,737,000. Finally, Manchester Capital Management LLC lifted its holdings in shares of Advanced Drainage Systems by 84.3% during the 2nd quarter. Manchester Capital Management LLC now owns 12,570 shares of the construction company’s stock valued at $359,000 after purchasing an additional 5,750 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Advanced Drainage Systems from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, June 5th. Boenning Scattergood reiterated a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, August 9th. Robert W. Baird reiterated a “buy” rating and set a $35.00 price objective on shares of Advanced Drainage Systems in a report on Friday, August 10th. Citigroup lifted their price objective on Advanced Drainage Systems from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 23rd. Finally, Barclays lifted their price objective on Advanced Drainage Systems from $25.00 to $29.00 and gave the company a “hold” rating in a report on Wednesday, May 30th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $32.25.

NYSE:WMS opened at $31.35 on Thursday. Advanced Drainage Systems Inc has a fifty-two week low of $17.90 and a fifty-two week high of $33.50. The company has a current ratio of 2.22, a quick ratio of 1.10 and a debt-to-equity ratio of 1.99. The stock has a market cap of $1.84 billion, a PE ratio of 38.70 and a beta of 0.93.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, August 9th. The construction company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.11. Advanced Drainage Systems had a return on equity of 47.60% and a net margin of 5.43%. The business had revenue of $387.85 million for the quarter, compared to analysts’ expectations of $382.67 million. During the same quarter in the previous year, the business posted $0.28 EPS. Advanced Drainage Systems’s revenue for the quarter was up 8.2% on a year-over-year basis. equities analysts expect that Advanced Drainage Systems Inc will post 1.1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, August 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 39.51%.

In other news, major shareholder Berkshire Partners Holdings Ll bought 1,500,000 shares of the business’s stock in a transaction on Tuesday, August 28th. The shares were purchased at an average price of $30.08 per share, for a total transaction of $45,120,000.00. Following the purchase, the insider now owns 745,556 shares of the company’s stock, valued at approximately $22,426,324.48. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ewout Leeuwenburg sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $31.42, for a total value of $942,600.00. Following the completion of the sale, the senior vice president now owns 73,062 shares in the company, valued at approximately $2,295,608.04. The disclosure for this sale can be found here. Insiders own 20.97% of the company’s stock.

Advanced Drainage Systems Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

See Also: Dividend

Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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