Advanced Drainage Systems, Inc. Plans Quarterly Dividend of $0.18 (NYSE:WMS)

Advanced Drainage Systems, Inc. (NYSE:WMS) announced a quarterly dividend on Thursday, February 5th. Stockholders of record on Monday, March 2nd will be paid a dividend of 0.18 per share by the construction company on Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, March 2nd.

Advanced Drainage Systems has decreased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. Advanced Drainage Systems has a payout ratio of 11.4% indicating that its dividend is sufficiently covered by earnings. 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 $0.72 annual dividend with an expected future payout ratio of 10.8%.

Advanced Drainage Systems Trading Up 6.2%

Shares of NYSE:WMS traded up $9.99 during mid-day trading on Thursday, hitting $170.25. The company had a trading volume of 1,707,552 shares, compared to its average volume of 745,427. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.48 and a quick ratio of 2.60. Advanced Drainage Systems has a one year low of $93.92 and a one year high of $173.75. The firm has a fifty day moving average price of $151.81 and a 200 day moving average price of $143.12. The company has a market capitalization of $13.24 billion, a PE ratio of 29.05, a price-to-earnings-growth ratio of 2.03 and a beta of 1.34.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, February 5th. The construction company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.16. Advanced Drainage Systems had a net margin of 15.35% and a return on equity of 28.85%. The business had revenue of $693.35 million during the quarter, compared to analysts’ expectations of $686.37 million. During the same period last year, the company posted $1.09 earnings per share. The business’s quarterly revenue was up .4% on a year-over-year basis. As a group, research analysts forecast that Advanced Drainage Systems will post 6.1 EPS for the current year.

Insiders Place Their Bets

In other Advanced Drainage Systems news, Director Robert M. Eversole sold 10,569 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $152.82, for a total value of $1,615,154.58. Following the transaction, the director directly owned 50,076 shares in the company, valued at $7,652,614.32. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider D. Scott Barbour sold 80,030 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $148.95, for a total value of $11,920,468.50. Following the completion of the transaction, the insider owned 42,867 shares in the company, valued at approximately $6,385,039.65. The trade was a 65.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 97,772 shares of company stock valued at $14,605,539. 1.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Advanced Drainage Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Advanced Drainage Systems by 234.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock valued at $164,901,000 after acquiring an additional 832,929 shares during the period. Norges Bank bought a new position in shares of Advanced Drainage Systems in the second quarter worth approximately $90,989,000. Interval Partners LP increased its holdings in shares of Advanced Drainage Systems by 98.0% in the 3rd quarter. Interval Partners LP now owns 968,534 shares of the construction company’s stock worth $134,336,000 after buying an additional 479,413 shares during the last quarter. SG Capital Management LLC bought a new position in Advanced Drainage Systems in the third quarter valued at $45,591,000. Finally, Franklin Resources Inc. increased its position in shares of Advanced Drainage Systems by 586.9% during the 3rd quarter. Franklin Resources Inc. now owns 285,810 shares of the construction company’s stock valued at $39,642,000 after purchasing an additional 244,202 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.