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Advanced Drainage Systems, Inc. (NYSE:WMS - Get Rating) announced a quarterly dividend on Thursday, August 4th, Zacks reports. Shareholders of record on Thursday, September 1st will be paid a dividend of 0.12 per share by the construction company on Thursday, September 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Wednesday, August 31st.
Advanced Drainage Systems has raised its dividend by an average of 10.7% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Advanced Drainage Systems has a dividend payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Advanced Drainage Systems to earn $7.01 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 6.8%. Advanced Drainage Systems Stock Performance
WMS stock opened at $138.15 on Tuesday. The firm has a market cap of $11.55 billion, a PE ratio of 30.70 and a beta of 1.51. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 1.28. The stock has a 50-day moving average price of $114.58 and a 200-day moving average price of $111.65. Advanced Drainage Systems has a 1-year low of $80.81 and a 1-year high of $153.36.
Advanced Drainage Systems (NYSE:WMS - Get Rating) last issued its earnings results on Thursday, August 4th. The construction company reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $1.22. Advanced Drainage Systems had a return on equity of 47.99% and a net margin of 12.65%. The business had revenue of $914.20 million during the quarter, compared to the consensus estimate of $849.39 million. During the same period in the previous year, the company posted $0.87 earnings per share. The firm's revenue for the quarter was up 36.6% on a year-over-year basis. As a group, equities research analysts expect that Advanced Drainage Systems will post 6.39 earnings per share for the current year. Insider Transactions at Advanced Drainage Systems
In related news, EVP Brian W. King sold 1,870 shares of Advanced Drainage Systems stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $140.98, for a total value of $263,632.60. Following the sale, the executive vice president now owns 3,583 shares of the company's stock, valued at approximately $505,131.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Brian W. King sold 1,870 shares of Advanced Drainage Systems stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $140.98, for a total transaction of $263,632.60. Following the completion of the sale, the executive vice president now owns 3,583 shares of the company's stock, valued at $505,131.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Darin S. Harvey sold 20,000 shares of Advanced Drainage Systems stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $112.55, for a total value of $2,251,000.00. Following the sale, the executive vice president now directly owns 4,600 shares of the company's stock, valued at approximately $517,730. The disclosure for this sale can be found here. Insiders sold a total of 428,466 shares of company stock valued at $49,632,336 over the last ninety days. 9.33% of the stock is currently owned by insiders. Institutional Trading of Advanced Drainage Systems
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Neo Ivy Capital Management bought a new position in Advanced Drainage Systems in the second quarter worth about $33,000. Lazard Asset Management LLC lifted its stake in shares of Advanced Drainage Systems by 98.2% in the 1st quarter. Lazard Asset Management LLC now owns 1,132 shares of the construction company's stock valued at $134,000 after purchasing an additional 561 shares during the period. Verition Fund Management LLC bought a new stake in shares of Advanced Drainage Systems during the first quarter valued at approximately $254,000. Prudential Financial Inc. grew its stake in Advanced Drainage Systems by 9.9% in the first quarter. Prudential Financial Inc. now owns 2,156 shares of the construction company's stock worth $256,000 after purchasing an additional 194 shares during the period. Finally, Cresset Asset Management LLC bought a new position in Advanced Drainage Systems in the first quarter worth $277,000. Institutional investors own 82.97% of the company's stock. Analyst Upgrades and Downgrades
Several brokerages recently issued reports on WMS. TheStreet lowered shares of Advanced Drainage Systems from a "b" rating to a "c+" rating in a research note on Thursday, May 19th. Barclays raised their target price on Advanced Drainage Systems from $135.00 to $164.00 and gave the company an "overweight" rating in a research note on Friday, August 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Advanced Drainage Systems in a research note on Wednesday, August 17th. They set a "buy" rating and a $182.00 price target on the stock. Robert W. Baird raised their price objective on Advanced Drainage Systems from $119.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, August 5th. Finally, Loop Capital cut their target price on Advanced Drainage Systems from $158.00 to $124.00 and set a "buy" rating on the stock in a report on Friday, July 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $152.00.Advanced Drainage Systems Company Profile (Get Rating)
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the underground construction and infrastructure marketplace in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.Featured ArticlesGet a free copy of the StockNews.com research report on Advanced Drainage Systems (WMS)Can Targa Continue Rallying To Meet Its Price Target? Is Unity Software Ready To Rally After Rejecting AppLovin Offer?MarketBeat Podcast: The Time For Cloud Stocks May Be NowMacy’s Value Lies Beneath its Stores The Mattel Train is Ready to Leave the Station
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