Bamco Inc. NY Makes New Investment in Advanced Drainage Systems, Inc. $WMS

Key Points

• Bamco Inc. NY purchased 680,431 shares of Advanced Drainage Systems during the second quarter, establishing a stake worth approximately $106.8 million, or 0.90% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $188.70; recent targets range as high as $207.
• Advanced Drainage Systems exceeded quarterly earnings expectations, reporting $2.49 in EPS and roughly $1 billion in revenue, up 20.6% year over year. The company also declared a quarterly dividend of $0.20 per share.

Bamco Inc. NY purchased a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 680,431 shares of the construction company's stock, valued at approximately $106,800,000. Bamco Inc. NY owned about 0.90% of Advanced Drainage Systems as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in WMS. Allworth Financial LP purchased a new stake in Advanced Drainage Systems in the second quarter valued at $26,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Advanced Drainage Systems by 352.0% in the 2nd 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. lifted its holdings in shares of Advanced Drainage Systems by 78.1% in the 1st 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 during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Advanced Drainage Systems in the third quarter worth about $36,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Advanced Drainage Systems in the fourth quarter worth about $37,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on WMS shares. DA Davidson initiated coverage on Advanced Drainage Systems in a research report on Tuesday. They set a "buy" rating and a $190.00 price target for the company. Barclays upped their price objective on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Jefferies Financial Group started coverage on shares of Advanced Drainage Systems in a research note on Thursday, June 11th. They set a "buy" rating and a $175.00 price objective on the stock. KeyCorp reaffirmed an "overweight" rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. Finally, UBS Group boosted their target price on shares of Advanced Drainage Systems from $205.00 to $207.00 and gave the company a "buy" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Advanced Drainage Systems has a consensus rating of "Moderate Buy" and an average price target of $188.70.

Advanced Drainage Systems Stock Up 0.0%

Shares of NYSE WMS opened at $141.46 on Thursday. The company's 50-day simple moving average is $146.35 and its 200-day simple moving average is $146.80. Advanced Drainage Systems, Inc. has a 52-week low of $128.03 and a 52-week high of $179.32. The firm has a market cap of $10.67 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 1.55 and a beta of 1.27. The company has a quick ratio of 1.18, a current ratio of 2.12 and a debt-to-equity ratio of 0.95.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.39. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $991.39 million. During the same quarter 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. Equities analysts predict that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Advanced Drainage Systems's payout ratio is presently 13.82%.

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.

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 - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source