Advanced Drainage Systems, Inc. (NYSE:WMS) Short Interest Down 22.0% in February

Advanced Drainage Systems, Inc. (NYSE:WMS) was the recipient of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 2,578,716 shares, a drop of 22.0% from the January 29th total of 3,307,921 shares. Approximately 3.4% of the company’s shares are sold short. Based on an average trading volume of 982,347 shares, the short-interest ratio is currently 2.6 days. Based on an average trading volume of 982,347 shares, the short-interest ratio is currently 2.6 days. Approximately 3.4% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research analysts recently issued reports on WMS shares. Barclays raised their target price on Advanced Drainage Systems from $187.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. KeyCorp raised their price objective on Advanced Drainage Systems from $180.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. UBS Group set a $215.00 price objective on Advanced Drainage Systems and gave the stock a “buy” rating in a research note on Friday, February 6th. Robert W. Baird set a $205.00 target price on shares of Advanced Drainage Systems in a research report on Friday, February 6th. Finally, Oppenheimer raised their price target on shares of Advanced Drainage Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and an average price target of $186.00.

Advanced Drainage Systems Trading Down 3.5%

NYSE WMS traded down $5.97 during trading hours on Tuesday, hitting $162.36. 717,497 shares of the company’s stock were exchanged, compared to its average volume of 754,428. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.98 and a beta of 1.27. The stock has a 50-day simple moving average of $159.86 and a 200 day simple moving average of $149.64. The company has a current ratio of 4.12, a quick ratio of 3.08 and a debt-to-equity ratio of 0.72. Advanced Drainage Systems has a 1-year low of $93.92 and a 1-year high of $179.32.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.16. The firm had revenue of $693.35 million for the quarter, compared to analyst estimates of $686.37 million. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The company’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 earnings per share. On average, equities analysts forecast that Advanced Drainage Systems will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, March 2nd. Advanced Drainage Systems’s payout ratio is 11.98%.

Insider Activity

In other news, Director Robert M. Eversole sold 10,569 shares of Advanced Drainage Systems stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $152.82, for a total transaction of $1,615,154.58. Following the transaction, the director owned 50,076 shares in the company, valued at approximately $7,652,614.32. The trade was a 17.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.63% of the company’s stock.

Hedge Funds Weigh In On Advanced Drainage Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Impax Asset Management Group plc increased its position in Advanced Drainage Systems by 4.8% in the 2nd quarter. Impax Asset Management Group plc now owns 3,043,909 shares of the construction company’s stock valued at $348,709,000 after buying an additional 139,495 shares in the last quarter. State Street Corp grew its stake in Advanced Drainage Systems by 3.1% in the third quarter. State Street Corp now owns 2,551,901 shares of the construction company’s stock valued at $353,949,000 after acquiring an additional 75,777 shares during the period. First Trust Advisors LP increased its holdings in shares of Advanced Drainage Systems by 10.9% during the third quarter. First Trust Advisors LP now owns 2,416,942 shares of the construction company’s stock valued at $335,230,000 after acquiring an additional 238,179 shares in the last quarter. American Century Companies Inc. raised its position in shares of Advanced Drainage Systems by 6.5% during the third quarter. American Century Companies Inc. now owns 1,472,176 shares of the construction company’s stock worth $204,191,000 after purchasing an additional 90,106 shares during the period. Finally, Amundi lifted its holdings in shares of Advanced Drainage Systems by 80.9% in the 4th quarter. Amundi now owns 1,279,576 shares of the construction company’s stock worth $185,324,000 after purchasing an additional 572,193 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

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.