Advanced Drainage Systems Inc. (WMS) Announces Quarterly Earnings Results
Advanced Drainage Systems Inc. (NYSE:WMS) announced its quarterly earnings results on Thursday. The company reported $0.37 earnings per share (EPS) for the quarter. Advanced Drainage Systems had a return on equity of 120.26% and a net margin of 1.60%. The business earned $358 million during the quarter, compared to the consensus estimate of $349.10 million.
Advanced Drainage Systems (NYSE:WMS) opened at 23.58 on Thursday. The stock’s 50 day moving average price is $23.84 and its 200-day moving average price is $24.64. The stock has a market cap of $1.74 billion, a PE ratio of 87.33 and a beta of 0.85. Advanced Drainage Systems has a 12 month low of $17.72 and a 12 month high of $32.50.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.02%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Advanced Drainage Systems by 9.4% in the second quarter. BlackRock Inc. now owns 15,906 shares of the company’s stock worth $435,000 after buying an additional 1,364 shares during the last quarter. BlackRock Advisors LLC boosted its position in Advanced Drainage Systems by 5.5% in the second quarter. BlackRock Advisors LLC now owns 16,549 shares of the company’s stock worth $453,000 after buying an additional 858 shares during the last quarter. American International Group Inc. boosted its position in Advanced Drainage Systems by 1.2% in the second quarter. American International Group Inc. now owns 19,994 shares of the company’s stock worth $547,000 after buying an additional 238 shares during the last quarter. Rhumbline Advisers boosted its position in Advanced Drainage Systems by 7.1% in the second quarter. Rhumbline Advisers now owns 34,436 shares of the company’s stock worth $943,000 after buying an additional 2,279 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in Advanced Drainage Systems during the second quarter worth approximately $1,069,000. Institutional investors own 70.62% of the company’s stock.
Several research analysts have weighed in on WMS shares. Zacks Investment Research raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. Deutsche Bank AG reissued a “hold” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Advanced Drainage Systems in a research report on Wednesday, June 8th. Royal Bank Of Canada boosted their price objective on Advanced Drainage Systems from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 8th. Finally, Boenning Scattergood cut Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $29.33.
Advanced Drainage Systems Company Profile
Advanced Drainage Systems, Inc designs, manufactures and markets thermoplastic corrugated pipe and related water management products. The Company operates through two segments: Domestic and International. Its product line includes corrugated high density polyethylene (HDPE) pipe, polypropylene (PP) pipe and related water management products.
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