Lisanti Capital Growth LLC Acquires 3,100 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Lisanti Capital Growth LLC grew its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 53.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,865 shares of the construction company’s stock after purchasing an additional 3,100 shares during the period. Lisanti Capital Growth LLC’s holdings in Advanced Drainage Systems were worth $1,422,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its position in Advanced Drainage Systems by 24.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,780 shares of the construction company’s stock worth $11,006,000 after purchasing an additional 12,655 shares during the period. Nordea Investment Management AB increased its position in shares of Advanced Drainage Systems by 10.3% during the 1st quarter. Nordea Investment Management AB now owns 121,851 shares of the construction company’s stock valued at $21,178,000 after purchasing an additional 11,423 shares during the last quarter. Magnetar Financial LLC bought a new stake in Advanced Drainage Systems during the first quarter valued at approximately $525,000. Price T Rowe Associates Inc. MD increased its holdings in Advanced Drainage Systems by 16.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company’s stock valued at $24,059,000 after buying an additional 19,626 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Advanced Drainage Systems by 5.8% in the first quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock worth $1,251,353,000 after acquiring an additional 395,099 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

WMS has been the subject of several analyst reports. KeyCorp upped their price objective on Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. StockNews.com cut Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Stephens increased their target price on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Barclays lowered their price target on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Northcoast Research initiated coverage on shares of Advanced Drainage Systems in a research note on Wednesday, May 8th. They issued a “buy” rating and a $190.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.14.

Advanced Drainage Systems Price Performance

Shares of NYSE:WMS traded up $0.81 during midday trading on Friday, reaching $156.76. 367,335 shares of the company were exchanged, compared to its average volume of 634,169. The stock has a market cap of $12.15 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.28 and a beta of 1.55. The business’s fifty day moving average is $159.61 and its two-hundred day moving average is $164.33. Advanced Drainage Systems, Inc. has a one year low of $102.32 and a one year high of $184.27. The company has a current ratio of 2.89, a quick ratio of 1.90 and a debt-to-equity ratio of 1.04.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.98 by $0.08. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The business had revenue of $815.34 million during the quarter, compared to the consensus estimate of $828.00 million. As a group, analysts predict that Advanced Drainage Systems, Inc. will post 7.18 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 Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Friday, August 30th. Advanced Drainage Systems’s payout ratio is 9.94%.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.