Lombard Odier Asset Management Europe Ltd Takes $12.88 Million Position in Advanced Drainage Systems, Inc. $WMS

Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in the second quarter, HoldingsChannel reports. The institutional investor acquired 82,032 shares of the construction company’s stock, valued at approximately $12,876,000.

A number of other hedge funds also recently made changes to their positions in WMS. BlackRock Inc. bought a new stake in Advanced Drainage Systems during the 2nd quarter worth approximately $1,172,482,000. Norges Bank purchased a new position in Advanced Drainage Systems during the fourth quarter valued at approximately $156,587,000. Wellington Management Group LLP boosted its position in shares of Advanced Drainage Systems by 234.0% in the third quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock worth $164,901,000 after purchasing an additional 832,929 shares during the period. Bamco Inc. NY bought a new position in shares of Advanced Drainage Systems in the second quarter worth approximately $106,800,000. Finally, Amundi boosted its position in shares of Advanced Drainage Systems by 80.9% in the fourth quarter. Amundi now owns 1,279,576 shares of the construction company’s stock worth $185,324,000 after purchasing an additional 572,193 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WMS. National Bank Financial set a $190.00 price objective on shares of Advanced Drainage Systems in a research note on Monday. Oppenheimer lowered their target price on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 26th. Barclays upped their target price on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. DA Davidson assumed coverage on Advanced Drainage Systems in a research note on Tuesday. They issued a “buy” rating and a $190.00 price target for the company. Finally, UBS Group raised their price target on Advanced Drainage Systems from $205.00 to $207.00 and gave the company a “buy” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus price target of $188.70.

Advanced Drainage Systems Stock Performance

Shares of NYSE WMS opened at $137.11 on Friday. The company has a market cap of $10.34 billion, a P/E ratio of 23.68, a P/E/G ratio of 1.52 and a beta of 1.27. Advanced Drainage Systems, Inc. has a 52-week low of $128.03 and a 52-week 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 firm’s fifty day moving average is $145.99 and its two-hundred day moving average is $146.47.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $991.39 million. During the same period in the prior year, the firm earned $1.95 EPS. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Advanced Drainage Systems’s 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.