Lombard Odier Asset Management Europe Ltd Acquires New Stake in Advanced Drainage Systems, Inc. $WMS

Key Points

• Lombard Odier Asset Management Europe Ltd acquired 82,032 shares of Advanced Drainage Systems worth approximately $12.9 million, while institutional investors collectively owned 89.83% of the company.
• Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $188.70; recent firms issued or maintained buy-equivalent ratings despite some target-price adjustments.
• Advanced Drainage Systems exceeded quarterly expectations, reporting $2.49 in EPS and $1 billion in revenue, up 20.6% year over year. The company also declared a quarterly dividend of $0.20 per share, representing a 0.6% yield.

Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 82,032 shares of the construction company's stock, valued at approximately $12,876,000. Lombard Odier Asset Management Europe Ltd owned about 0.11% of Advanced Drainage Systems at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC purchased a new stake in shares of Advanced Drainage Systems in the second quarter worth $1,339,000. Empowered Funds LLC bought a new position in shares of Advanced Drainage Systems during the second quarter valued at $1,023,000. United Capital Financial Advisors LLC purchased a new position in shares of Advanced Drainage Systems in the 2nd quarter worth about $708,000. Hill City Capital LP purchased a new position in shares of Advanced Drainage Systems in the 2nd quarter worth about $75,340,800. Finally, Hamilton Capital LLC bought a new position in Advanced Drainage Systems in the 2nd quarter worth about $218,000. 89.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WMS. Oppenheimer cut their price objective on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 26th. Jefferies Financial Group started coverage on shares of Advanced Drainage Systems in a report on Thursday, June 11th. They issued a "buy" rating and a $175.00 target price for the company. Royal Bank Of Canada upped their target price on shares of 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 started coverage on shares of Advanced Drainage Systems in a research report on Tuesday. They set a "buy" rating and a $190.00 price target for the company. Finally, Barclays boosted their price objective 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. One 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 company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $188.70.

Advanced Drainage Systems Stock Performance

WMS opened at $137.11 on Friday. The company's 50 day moving average is $145.99 and its 200 day moving average is $146.47. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.52 and a beta of 1.27. Advanced Drainage Systems, Inc. has a 12-month low of $128.03 and a 12-month high of $179.32.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its earnings results on Thursday, August 6th. The construction company reported $2.49 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $1 billion during the quarter, compared to analysts' expectations of $991.39 million. During the same period in the prior year, the company earned $1.95 earnings per share. The firm's revenue was up 20.6% on a year-over-year basis. On average, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

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 dividend of $0.20 per share. 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 payout ratio is presently 13.82%.

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.

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