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

PDT Partners LLC acquired a new position in Advanced Drainage Systems, Inc. (NYSE:WMS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,662 shares of the construction company’s stock, valued at approximately $4,499,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its position in Advanced Drainage Systems by 352.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after acquiring an additional 176 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of 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 purchasing an additional 382 shares during the last quarter. Brown Advisory Inc. lifted its stake 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 valued at $549,000 after purchasing an additional 588 shares during the last quarter. Jump Financial LLC bought a new stake in Advanced Drainage Systems in the second quarter worth $403,000. Finally, California Public Employees Retirement System boosted its holdings in Advanced Drainage Systems by 2.2% in the second quarter. California Public Employees Retirement System now owns 101,512 shares of the construction company’s stock worth $11,660,000 after purchasing an additional 2,206 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Zacks Research upgraded Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Robert W. Baird set a $206.00 price target on Advanced Drainage Systems in a research note on Friday, August 7th. Jefferies Financial Group initiated coverage on Advanced Drainage Systems in a report on Thursday, June 11th. They set a “buy” rating and a $175.00 price objective on the stock. National Bank Financial set a $190.00 price objective on Advanced Drainage Systems in a research note on Monday. Finally, DA Davidson began coverage on Advanced Drainage Systems in a research note on Tuesday. They issued a “buy” rating and a $190.00 price objective on the stock. Eight 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $188.70.

Advanced Drainage Systems Price Performance

NYSE WMS opened at $141.52 on Wednesday. Advanced Drainage Systems, Inc. has a twelve month low of $128.03 and a twelve month high of $179.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 2.12. The stock has a market capitalization of $10.67 billion, a PE ratio of 24.44, a P/E/G ratio of 1.54 and a beta of 1.27. The stock has a 50-day simple moving average of $146.30 and a 200 day simple moving average of $147.00.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results 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. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $991.39 million. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.95 EPS. Research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

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

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.