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

Hill City Capital LP purchased a new position in Advanced Drainage Systems, Inc. (NYSE:WMS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 480,000 shares of the construction company’s stock, valued at approximately $75,341,000. Advanced Drainage Systems makes up 1.9% of Hill City Capital LP’s portfolio, making the stock its 13th largest position. Hill City Capital LP owned approximately 0.64% of Advanced Drainage Systems as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WMS. BlackRock Inc. purchased a new stake in Advanced Drainage Systems during the second quarter valued at approximately $1,172,482,000. State Street Corp boosted its holdings in shares of Advanced Drainage Systems by 3.1% in the 3rd quarter. State Street Corp now owns 2,551,901 shares of the construction company’s stock worth $353,949,000 after purchasing an additional 75,777 shares during the period. Pictet Asset Management Holding SA increased its position in shares of 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 valued at $302,290,000 after purchasing an additional 546,298 shares during the last quarter. Amundi lifted its position in Advanced Drainage Systems by 0.7% in the first quarter. Amundi now owns 1,288,672 shares of the construction company’s stock worth $176,734,000 after buying an additional 9,096 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Advanced Drainage Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 1,271,453 shares of the construction company’s stock worth $184,184,000 after purchasing an additional 15,069 shares during the period. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Stock Performance

Shares of Advanced Drainage Systems stock opened at $143.91 on Monday. The company has a market capitalization of $10.85 billion, a PE ratio of 24.85, a P/E/G ratio of 1.57 and a beta of 1.27. The company has a 50-day simple moving average of $146.28 and a two-hundred day simple moving average of $147.25. Advanced Drainage Systems, Inc. has a one year low of $128.03 and a one year 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.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.39. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations 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 period last year, the business earned $1.95 EPS. Research analysts expect that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 13.82%.

Analyst Upgrades and Downgrades

WMS has been the topic of several recent research reports. Zacks Research upgraded shares of Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Barclays boosted their price target on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. UBS Group upped their price target on shares of Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Friday, July 17th. Finally, Royal Bank Of Canada lifted their price objective on shares of Advanced Drainage Systems from $170.00 to $178.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $188.38.

About Advanced Drainage Systems

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.