Advanced Drainage Systems, Inc. (NYSE:WMS) declared a quarterly dividend on Thursday, August 3rd, RTT News reports. Stockholders of record on Friday, September 1st will be paid a dividend of 0.07 per share by the construction company on Friday, September 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Wednesday, August 30th.
Advanced Drainage Systems has a payout ratio of 45.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Advanced Drainage Systems to earn $0.89 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 31.5%.
Advanced Drainage Systems (NYSE WMS) opened at 19.20 on Friday. Advanced Drainage Systems has a 52 week low of $18.40 and a 52 week high of $26.30. The stock’s 50 day moving average is $20.15 and its 200-day moving average is $21.37. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 38.95 and a beta of 0.92.
Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.06. The company had revenue of $358.36 million for the quarter, compared to analyst estimates of $372.63 million. Advanced Drainage Systems had a return on equity of 62.10% and a net margin of 2.50%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. On average, equities research analysts expect that Advanced Drainage Systems will post $1.09 EPS for the current year.
WMS has been the topic of several research reports. Boenning Scattergood reiterated a “hold” rating on shares of Advanced Drainage Systems in a research report on Thursday, May 25th. Royal Bank Of Canada reiterated a “hold” rating on shares of Advanced Drainage Systems in a research report on Friday, May 26th. Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “sell” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Thursday, July 13th. BidaskClub upgraded shares of Advanced Drainage Systems from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, ValuEngine downgraded shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.33.
In other Advanced Drainage Systems news, Chairman Joseph A. Chlapaty bought 10,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were bought at an average cost of $20.28 per share, for a total transaction of $202,800.00. Following the transaction, the chairman now owns 227,786 shares in the company, valued at approximately $4,619,500.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of the business’s stock in a transaction on Monday, August 7th. The shares were acquired at an average price of $20.32 per share, for a total transaction of $70,028,673.76. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 3,486,293 shares of company stock worth $70,813,174. Corporate insiders own 21.43% of the company’s stock.
Advanced Drainage Systems Company Profile
Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.
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