Hill City Capital LP Takes Position in Advanced Drainage Systems, Inc. $WMS

Hill City Capital LP bought a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 480,000 shares of the construction company’s stock, valued at approximately $75,340,800,000. Advanced Drainage Systems accounts for 1.8% of Hill City Capital LP’s investment portfolio, making the stock its 14th largest holding. Hill City Capital LP owned about 0.64% of Advanced Drainage Systems at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC grew its position in shares of Advanced Drainage Systems by 406.0% during the fourth quarter. HighTower Advisors LLC now owns 27,302 shares of the construction company’s stock worth $3,954,000 after buying an additional 21,906 shares in the last quarter. Pier Capital LLC raised its holdings in Advanced Drainage Systems by 69,891.7% in the fourth quarter. Pier Capital LLC now owns 50,394 shares of the construction company’s stock valued at $7,299,000 after acquiring an additional 50,322 shares in the last quarter. BlackRock Inc. purchased a new position in Advanced Drainage Systems in the second quarter worth approximately $1,172,482,000. Mirabaud Asset Management Ltd purchased a new position in Advanced Drainage Systems in the fourth quarter worth approximately $3,283,000. Finally, Pictet Asset Management Holding SA grew its holdings in Advanced Drainage Systems by 32.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock worth $302,290,000 after acquiring an additional 546,298 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WMS has been the topic of a number of recent analyst reports. 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 report on Friday, August 7th. Royal Bank Of Canada lifted their price objective on shares of Advanced Drainage Systems from $170.00 to $178.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Robert W. Baird set a $206.00 target price on Advanced Drainage Systems in a report on Friday, August 7th. Jefferies Financial Group started coverage on Advanced Drainage Systems in a report on Thursday, June 11th. They issued a “buy” rating and a $175.00 target price on the stock. Finally, Barclays lifted their price target on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and an average price target of $188.70.

Advanced Drainage Systems Stock Performance

Shares of Advanced Drainage Systems stock opened at $139.16 on Friday. The company has a quick ratio of 1.18, a current ratio of 2.12 and a debt-to-equity ratio of 0.95. Advanced Drainage Systems, Inc. has a 52 week low of $128.03 and a 52 week high of $179.32. The firm’s 50 day moving average is $146.19 and its two-hundred day moving average is $146.54. The firm has a market capitalization of $10.49 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.55 and a beta of 1.27.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.39. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $991.39 million. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The company’s revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.95 EPS. Research analysts forecast that Advanced Drainage Systems, Inc. will post 6.62 EPS 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 given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.6%. Advanced Drainage Systems’s payout ratio is 13.82%.

Advanced Drainage Systems 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.