Advanced Drainage Systems, Inc. (NYSE:WMS) Announces Quarterly Dividend of $0.20

Advanced Drainage Systems, Inc. (NYSE:WMS) declared a quarterly dividend on Thursday, November 5th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.20 per share by the construction company on Tuesday, December 15th. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, December 1st.

Advanced Drainage Systems has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Advanced Drainage Systems has a dividend payout ratio of 12.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Advanced Drainage Systems to earn $7.42 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 10.8%.

Advanced Drainage Systems Trading Down 14.4%

Shares of NYSE:WMS traded down $20.77 during midday trading on Thursday, reaching $123.30. The company’s stock had a trading volume of 2,726,196 shares, compared to its average volume of 825,407. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 1.56 and a beta of 1.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 2.12. The firm has a 50 day moving average price of $130.70 and a two-hundred day moving average price of $143.43. Advanced Drainage Systems has a fifty-two week low of $120.14 and a fifty-two week high of $179.32.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, November 5th. The construction company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.81 by $0.07. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%. The company had revenue of $889.41 million for the quarter, compared to analyst estimates of $921.79 million. During the same quarter in the prior year, the company earned $1.97 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, analysts forecast that Advanced Drainage Systems will post 6.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in Advanced Drainage Systems in the second quarter valued at approximately $26,000. Gen Wealth Partners Inc acquired a new position in shares of Advanced Drainage Systems during the third quarter worth approximately $29,000. Avalon Trust Co acquired a new position in shares of Advanced Drainage Systems during the second quarter worth approximately $42,000. Vega Investment Solutions bought a new position in shares of Advanced Drainage Systems in the 2nd quarter worth $50,000. Finally, Heritage Family Offices LLP bought a new position in shares of Advanced Drainage Systems in the 3rd quarter worth $53,000. Institutional investors own 89.83% of the company’s stock.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE: WMS) is a manufacturer of water management products and solutions. The company produces thermoplastic corrugated pipe, fittings, drainage structures, stormwater chambers and related products used to manage the collection, conveyance, storage and treatment of water.

Its products serve a range of markets, including residential, commercial, agricultural, infrastructure and environmental applications. Advanced Drainage Systems supplies solutions for stormwater management, septic and wastewater systems, highway and road construction, land development, agriculture and erosion control.

Founded in 1966 and headquartered in Hilliard, Ohio, the company serves customers through a manufacturing and distribution network primarily covering the United States and Canada, with additional international operations.