PDT Partners LLC Takes $4.50 Million Position in Advanced Drainage Systems, Inc. $WMS

PDT Partners LLC bought a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 28,662 shares of the construction company’s stock, valued at approximately $4,499,000.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in Advanced Drainage Systems by 352.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after acquiring an additional 176 shares during the period. Baird Financial Group Inc. raised its holdings in Advanced Drainage Systems by 1.8% in the 2nd quarter. Baird Financial Group Inc. now owns 21,049 shares of the construction company’s stock valued at $2,418,000 after acquiring an additional 382 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Advanced Drainage Systems by 14.0% in the 2nd quarter. Brown Advisory Inc. now owns 4,784 shares of the construction company’s stock worth $549,000 after acquiring an additional 588 shares during the period. Jump Financial LLC bought a new stake in shares of Advanced Drainage Systems in the 2nd quarter worth approximately $403,000. Finally, California Public Employees Retirement System lifted its position in shares of Advanced Drainage Systems by 2.2% in the 2nd quarter. California Public Employees Retirement System now owns 101,512 shares of the construction company’s stock worth $11,660,000 after acquiring an additional 2,206 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Up 0.8%

NYSE WMS opened at $141.52 on Wednesday. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average is $146.30 and its two-hundred day moving average is $147.00. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.54 and a beta of 1.27. Advanced Drainage Systems, Inc. has a 1-year low of $128.03 and a 1-year high of $179.32.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.39. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The company had revenue of $1 billion for the quarter, compared to analyst estimates of $991.39 million. During the same period in the prior year, the company posted $1.95 EPS. The company’s revenue was up 20.6% compared to the same quarter last year. Equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.62 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 annualized dividend and a yield of 0.6%. Advanced Drainage Systems’s payout ratio is currently 13.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WMS. Robert W. Baird set a $206.00 price objective on Advanced Drainage Systems in a research report on Friday, August 7th. DA Davidson began coverage on Advanced Drainage Systems in a research report on Tuesday. They issued a “buy” rating and a $190.00 target price for the company. National Bank Financial set a $190.00 price target on shares of Advanced Drainage Systems in a research note on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Friday, July 17th. Finally, UBS Group increased their price objective on shares of Advanced Drainage Systems from $205.00 to $207.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.70.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.