Advanced Drainage Systems Inc (NYSE:WMS) declared a quarterly dividend on Thursday, November 8th, RTT News reports. Investors of record on Friday, November 30th will be given a dividend of 0.08 per share by the construction company on Friday, December 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.19%.
Advanced Drainage Systems has raised its dividend by an average of 89.0% annually 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 29.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Advanced Drainage Systems to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 24.8%.
Shares of NYSE:WMS traded down $1.93 during trading on Thursday, reaching $27.00. 7,798 shares of the company traded hands, compared to its average volume of 193,756. The firm has a market capitalization of $1.62 billion, a P/E ratio of 33.40 and a beta of 1.02. Advanced Drainage Systems has a 1-year low of $20.85 and a 1-year high of $33.50. The company has a quick ratio of 1.10, a current ratio of 2.22 and a debt-to-equity ratio of 1.99.
Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, November 8th. The construction company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $406.56 million during the quarter, compared to analyst estimates of $417.03 million. Advanced Drainage Systems had a net margin of 5.43% and a return on equity of 47.60%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. Equities research analysts expect that Advanced Drainage Systems will post 1.1 earnings per share for the current fiscal year.
WMS has been the subject of a number of research reports. Barclays lifted their target price on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, August 13th. Zacks Investment Research raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. Citigroup lifted their target price on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 23rd. Robert W. Baird reissued a “buy” rating and set a $35.00 target price on shares of Advanced Drainage Systems in a research note on Friday, August 10th. Finally, Boenning Scattergood restated a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, August 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $32.25.
In other Advanced Drainage Systems news, major shareholder Berkshire Partners Holdings Ll purchased 1,500,000 shares of the business’s stock in a transaction dated Tuesday, August 28th. The shares were acquired at an average price of $30.08 per share, for a total transaction of $45,120,000.00. Following the acquisition, the insider now owns 745,556 shares of the company’s stock, valued at $22,426,324.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ewout Leeuwenburg sold 30,000 shares of Advanced Drainage Systems stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $31.42, for a total transaction of $942,600.00. Following the completion of the transaction, the senior vice president now owns 73,062 shares in the company, valued at approximately $2,295,608.04. The disclosure for this sale can be found here. 20.97% of the stock is currently owned by company insiders.
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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