Jupiter Topco LLC Makes New Investment in Advanced Drainage Systems, Inc. $WMS

Key Points

• Jupiter Topco LLC acquired 361,701 shares of Advanced Drainage Systems, valued at approximately $56.8 million, giving it a 0.48% stake. Institutional investors collectively own 89.83% of the company.
• Analysts remain generally bullish, with a consensus rating of “Moderate Buy” and an average price target of $188.70. Recent targets include $190 from DA Davidson and National Bank Financial.
• Advanced Drainage Systems exceeded quarterly expectations, reporting $2.49 EPS versus $2.10 expected and $1 billion in revenue, up 20.6% year over year. The company also announced a quarterly dividend of $0.20 per share, representing a 0.6% yield.

Jupiter Topco LLC purchased a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 361,701 shares of the construction company's stock, valued at approximately $56,805,000. Jupiter Topco LLC owned about 0.48% of Advanced Drainage Systems at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Advanced Drainage Systems in the 2nd quarter valued at about $1,172,482,000. State Street Corp increased its position in Advanced Drainage Systems by 3.1% during the third quarter. State Street Corp now owns 2,551,901 shares of the construction company's stock worth $353,949,000 after buying an additional 75,777 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Advanced Drainage Systems by 32.9% during the first quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company's stock worth $302,290,000 after buying an additional 546,298 shares during the last quarter. Amundi raised its stake in Advanced Drainage Systems by 0.7% in the first quarter. Amundi now owns 1,288,672 shares of the construction company's stock valued at $176,734,000 after buying an additional 9,096 shares during the period. Finally, Geode Capital Management LLC raised its stake in Advanced Drainage Systems by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,271,453 shares of the construction company's stock valued at $184,184,000 after buying an additional 15,069 shares during the period. Institutional investors own 89.83% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on WMS. Royal Bank Of Canada lifted their target price on Advanced Drainage Systems from $170.00 to $178.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. DA Davidson began coverage on Advanced Drainage Systems in a research note on Tuesday. They issued a "buy" rating and a $190.00 price target on the stock. National Bank Financial set a $190.00 price target on Advanced Drainage Systems in a report on Monday. Zacks Research raised shares of Advanced Drainage Systems from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Finally, KeyCorp reiterated an "overweight" rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Advanced Drainage Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $188.70.

Advanced Drainage Systems Trading Down 1.6%

Shares of NYSE:WMS opened at $139.16 on Friday. Advanced Drainage Systems, Inc. has a 12-month low of $128.03 and a 12-month high of $179.32. The stock has a market cap of $10.49 billion, a PE ratio of 24.03, a P/E/G ratio of 1.55 and a beta of 1.27. The business has a 50 day moving average of $146.19 and a 200-day moving average of $146.54. 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 announced its earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, topping analysts' consensus estimates of $2.10 by $0.39. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $991.39 million. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The firm's quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.95 earnings per share. As a group, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.62 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

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

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