Advanced Drainage Systems, Inc. (NYSE:WMS) Plans Dividend Increase – $0.18 Per Share

Advanced Drainage Systems, Inc. (NYSE:WMS) announced a quarterly dividend on Thursday, May 15th, RTT News reports. Shareholders of record on Friday, May 30th will be given a dividend of 0.18 per share by the construction company on Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a yield of 0.59%. This is a 12.5% increase from Advanced Drainage Systems’s previous quarterly dividend of $0.16.

Advanced Drainage Systems has raised its dividend payment by an average of 13.9% per year over the last three years and has raised its dividend every year for the last 1 years. Advanced Drainage Systems has a dividend payout ratio of 9.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Advanced Drainage Systems to earn $6.68 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 9.6%.

Advanced Drainage Systems Trading Down 1.1%

Shares of Advanced Drainage Systems stock opened at $122.14 on Thursday. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $109.37 and a 200-day simple moving average of $119.96. The stock has a market cap of $9.48 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.13 and a beta of 1.31. Advanced Drainage Systems has a 12-month low of $93.92 and a 12-month high of $184.27.

Analyst Ratings Changes

A number of brokerages recently weighed in on WMS. Loop Capital reduced their price target on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, February 7th. KeyCorp cut their target price on Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Stephens reissued an “equal weight” rating and issued a $135.00 target price on shares of Advanced Drainage Systems in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Advanced Drainage Systems in a research report on Tuesday, April 1st. They set a “buy” rating and a $134.00 price target on the stock. Finally, StockNews.com upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.25.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.