Advanced Drainage Systems, Inc. $WMS Position Raised by Lombard Odier Asset Management Europe Ltd

Key Points

• Lombard Odier Asset Management Europe Ltd increased its stake in Advanced Drainage Systems by 87% in the first quarter, bringing its holdings to 111,124 shares worth about $15.2 million.
• Advanced Drainage Systems reported better-than-expected quarterly results, posting EPS of $1.07 versus the $0.95 estimate and revenue of $676.76 million, up 9.9% year over year.
• The company also raised its quarterly dividend to $0.20 per share from $0.18, while analysts currently hold a consensus rating of Moderate Buy with an average price target of $187.00.

Lombard Odier Asset Management Europe Ltd boosted its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 87.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,124 shares of the construction company's stock after purchasing an additional 51,707 shares during the period. Lombard Odier Asset Management Europe Ltd owned approximately 0.14% of Advanced Drainage Systems worth $15,238,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Advanced Drainage Systems by 352.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company's stock valued at $26,000 after buying an additional 176 shares during the period. SJS Investment Consulting Inc. boosted its stake in Advanced Drainage Systems by 78.1% during the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company's stock valued at $33,000 after buying an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Advanced Drainage Systems during the third quarter worth about $36,000. Kestra Advisory Services LLC bought a new stake in Advanced Drainage Systems in the fourth quarter worth about $37,000. Finally, Los Angeles Capital Management LLC bought a new stake in Advanced Drainage Systems in the fourth quarter worth about $42,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Price Performance

NYSE WMS opened at $142.05 on Friday. The stock's 50-day moving average price is $142.29 and its two-hundred day moving average price is $148.72. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. The company has a market cap of $10.89 billion, a PE ratio of 26.11, a PEG ratio of 1.53 and a beta of 1.26. Advanced Drainage Systems, Inc. has a 1 year low of $110.85 and a 1 year high of $179.32.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. The company had revenue of $676.76 million during the quarter, compared to analyst estimates of $651.92 million. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.The company's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. On average, analysts predict that Advanced Drainage Systems, Inc. will post 6.55 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.6%. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.18. The ex-dividend date was Monday, June 1st. Advanced Drainage Systems's dividend payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

WMS has been the subject of several research reports. Weiss Ratings restated a "hold (c)" rating on shares of Advanced Drainage Systems in a research report on Friday, July 17th. UBS Group cut their target price on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a "buy" rating for the company in a research note on Friday, May 22nd. Barclays raised 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. Jefferies Financial Group started coverage on shares of Advanced Drainage Systems in a research report on Thursday, June 11th. They issued a "buy" rating and a $175.00 price target on the stock. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $187.00.

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.

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