Stockbridge Partners LLC held its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,331,169 shares of the construction company’s stock at the end of the 2nd quarter. Advanced Drainage Systems accounts for about 3.1% of Stockbridge Partners LLC’s investment portfolio, making the stock its 12th largest position. Stockbridge Partners LLC owned 6.03% of Advanced Drainage Systems worth $66,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Manchester Capital Management LLC raised its position in Advanced Drainage Systems by 1.0% in the 2nd quarter. Manchester Capital Management LLC now owns 9,770 shares of the construction company’s stock valued at $196,000 after purchasing an additional 100 shares during the last quarter. Rhumbline Advisers raised its position in Advanced Drainage Systems by 0.5% in the 2nd quarter. Rhumbline Advisers now owns 38,851 shares of the construction company’s stock valued at $781,000 after purchasing an additional 178 shares during the last quarter. Alliancebernstein L.P. raised its position in Advanced Drainage Systems by 0.9% in the 2nd quarter. Alliancebernstein L.P. now owns 67,718 shares of the construction company’s stock valued at $1,361,000 after purchasing an additional 609 shares during the last quarter. American International Group Inc. raised its position in Advanced Drainage Systems by 7.1% in the 1st quarter. American International Group Inc. now owns 21,387 shares of the construction company’s stock valued at $468,000 after purchasing an additional 1,415 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Advanced Drainage Systems by 7.1% in the 1st quarter. Principal Financial Group Inc. now owns 30,454 shares of the construction company’s stock valued at $667,000 after purchasing an additional 2,023 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

WMS has been the subject of a number of analyst reports. BidaskClub upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. ValuEngine downgraded shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Zacks Investment Research downgraded shares of Advanced Drainage Systems from a “buy” rating to a “sell” rating in a research report on Thursday, August 10th. Robert W. Baird restated a “buy” rating and set a $24.00 price objective on shares of Advanced Drainage Systems in a research report on Friday, September 8th. Finally, Boenning Scattergood restated a “hold” rating on shares of Advanced Drainage Systems in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Advanced Drainage Systems has an average rating of “Hold” and an average price target of $23.67.

Shares of Advanced Drainage Systems, Inc. (NYSE WMS) traded up 0.25% during trading on Tuesday, hitting $20.35. 99,453 shares of the stock were exchanged. Advanced Drainage Systems, Inc. has a 12-month low of $18.40 and a 12-month high of $26.30. The stock has a 50-day moving average of $20.10 and a 200 day moving average of $20.98. The stock has a market cap of $1.12 billion, a P/E ratio of 41.28 and a beta of 0.93.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Advanced Drainage Systems had a net margin of 2.50% and a return on equity of 62.10%. The company had revenue of $358.36 million for the quarter, compared to the consensus estimate of $372.63 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Advanced Drainage Systems’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts predict that Advanced Drainage Systems, Inc. will post $1.09 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Wednesday, August 30th. Advanced Drainage Systems’s dividend payout ratio is currently 60.87%.

In related news, EVP Robert M. Klein sold 20,000 shares of Advanced Drainage Systems stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $20.77, for a total transaction of $415,400.00. Following the sale, the executive vice president now directly owns 340,205 shares in the company, valued at $7,066,057.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Berkshire Partners Holdings Ll acquired 3,446,293 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average price of $20.32 per share, for a total transaction of $70,028,673.76. The disclosure for this purchase can be found here. 21.43% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: “Stockbridge Partners LLC Has $66,956,000 Stake in Advanced Drainage Systems, Inc. (WMS)” was first published by Watch List News and is owned by of Watch List News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.watchlistnews.com/stockbridge-partners-llc-has-66956000-stake-in-advanced-drainage-systems-inc-wms/1589389.html.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.

Want to see what other hedge funds are holding WMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Drainage Systems, Inc. (NYSE:WMS).

Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

Receive News & Ratings for Advanced Drainage Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Drainage Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.