Advanced Drainage Systems Inc (NYSE:WMS) announced a quarterly dividend on Thursday, February 6th, Zacks reports. Shareholders of record on Monday, March 2nd will be given a dividend of 0.09 per share by the construction company on Monday, March 16th. This represents a $0.36 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, February 28th.
Advanced Drainage Systems has raised its dividend by an average of 10.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Advanced Drainage Systems has a payout ratio of -45.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Advanced Drainage Systems to earn $1.89 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 19.0%.
NYSE:WMS opened at $45.52 on Thursday. The business’s 50-day moving average price is $44.28 and its two-hundred day moving average price is $37.68. Advanced Drainage Systems has a twelve month low of $24.19 and a twelve month high of $51.60. The stock has a market cap of $3.93 billion, a P/E ratio of -12.40 and a beta of 0.97. The company has a quick ratio of 1.19, a current ratio of 2.37 and a debt-to-equity ratio of 2.00.
Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, February 6th. The construction company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.03). Advanced Drainage Systems had a negative net margin of 12.43% and a positive return on equity of 16.13%. The business had revenue of $393.40 million during the quarter, compared to analysts’ expectations of $392.60 million. During the same period in the previous year, the business earned $0.25 EPS. The business’s revenue was up 23.6% on a year-over-year basis. On average, equities research analysts expect that Advanced Drainage Systems will post -3.15 EPS for the current fiscal year.
In other news, insider Tim A. Makowski sold 1,831 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $38.63, for a total transaction of $70,731.53. Following the transaction, the insider now directly owns 4,773 shares in the company, valued at approximately $184,380.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ewout Leeuwenburg sold 43,710 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $47.16, for a total value of $2,061,363.60. Following the transaction, the senior vice president now owns 87,314 shares in the company, valued at $4,117,728.24. The disclosure for this sale can be found here. 20.84% of the stock is currently owned by corporate insiders.
Several equities analysts have recently commented on WMS shares. Barclays upgraded Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $41.00 to $45.00 in a research report on Wednesday, December 18th. Morgan Stanley increased their price objective on Advanced Drainage Systems from $42.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. ValuEngine upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, February 11th. TheStreet upgraded Advanced Drainage Systems from a “c+” rating to a “b” rating in a research report on Thursday, February 6th. Finally, Zacks Investment Research lowered Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Saturday, December 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $48.60.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.
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