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

Fernbridge Capital Management LP grew its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 108.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 253,549 shares of the construction company's stock after purchasing an additional 131,781 shares during the quarter. Advanced Drainage Systems comprises about 2.4% of Fernbridge Capital Management LP's investment portfolio, making the stock its 13th biggest position. Fernbridge Capital Management LP owned approximately 0.33% of Advanced Drainage Systems worth $39,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of WMS. CIBC Asset Management Inc boosted its position in Advanced Drainage Systems by 3.6% during the third quarter. CIBC Asset Management Inc now owns 2,271 shares of the construction company's stock worth $357,000 after purchasing an additional 79 shares during the period. CWM LLC grew its stake in Advanced Drainage Systems by 18.1% in the 3rd quarter. CWM LLC now owns 555 shares of the construction company's stock valued at $87,000 after buying an additional 85 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Advanced Drainage Systems by 10.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the construction company's stock worth $164,000 after acquiring an additional 95 shares during the period. West Oak Capital LLC lifted its position in Advanced Drainage Systems by 133.3% during the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company's stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in Advanced Drainage Systems by 4.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,411 shares of the construction company's stock valued at $379,000 after acquiring an additional 111 shares during the period. Institutional investors and hedge funds own 89.83% of the company's stock.

Advanced Drainage Systems Price Performance

Shares of WMS stock traded up $0.25 during mid-day trading on Wednesday, reaching $131.90. The company's stock had a trading volume of 242,604 shares, compared to its average volume of 505,988. The firm's 50-day moving average is $148.30 and its two-hundred day moving average is $156.93. The company has a market cap of $10.22 billion, a P/E ratio of 20.85, a PEG ratio of 1.22 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 1-year low of $119.25 and a 1-year high of $184.27. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 3.19.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.23). The business had revenue of $782.60 million during the quarter, compared to analyst estimates of $819.41 million. Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The business's revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the company earned $1.71 EPS. On average, research analysts predict that Advanced Drainage Systems, Inc. will post 6.5 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems's dividend payout ratio is 10.19%.

Analyst Ratings Changes

A number of research firms have recently commented on WMS. Oppenheimer dropped their price objective on Advanced Drainage Systems from $192.00 to $184.00 and set an "outperform" rating on the stock in a research note on Monday, November 11th. Robert W. Baird reduced their price objective on Advanced Drainage Systems from $174.00 to $161.00 and set an "outperform" rating for the company in a research report on Monday, November 11th. Stephens reaffirmed an "equal weight" rating and set a $135.00 target price (down previously from $170.00) on shares of Advanced Drainage Systems in a research report on Wednesday, November 13th. KeyCorp cut their target price on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Finally, Loop Capital decreased their price target on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.29.

Advanced Drainage Systems Company Profile

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.