Advanced Drainage Systems Inc (NYSE:WMS) declared a quarterly dividend on Thursday, February 6th, Zacks reports. Shareholders of record on Monday, March 2nd will be paid a dividend of 0.09 per share by the construction company on Monday, March 16th. This represents a $0.36 annualized dividend and a yield of 0.79%. The ex-dividend date is Friday, February 28th.
Advanced Drainage Systems has increased its dividend by an average of 10.1% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Advanced Drainage Systems has a payout ratio of -45.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Advanced Drainage Systems to earn $1.89 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 19.0%.
Shares of WMS opened at $45.52 on Thursday. Advanced Drainage Systems has a 52-week low of $24.19 and a 52-week high of $51.60. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.19 and a current ratio of 2.37. The business’s 50 day moving average price is $44.28 and its two-hundred day moving average price is $37.68. The firm has a market cap of $3.93 billion, a PE ratio of -12.40 and a beta of 0.97.
WMS has been the subject of several recent research reports. Morgan Stanley boosted their price objective on Advanced Drainage Systems from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. ValuEngine upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Tuesday, February 11th. Bank of America initiated coverage on Advanced Drainage Systems in a report on Tuesday, December 3rd. They set a “buy” rating and a $46.00 price objective for the company. Zacks Investment Research downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Finally, TheStreet upgraded Advanced Drainage Systems from a “c+” rating to a “b” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $48.60.
In related news, SVP Ewout Leeuwenburg sold 43,710 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $47.16, for a total transaction of $2,061,363.60. Following the completion of the sale, the senior vice president now owns 87,314 shares in the company, valued at $4,117,728.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tim A. Makowski sold 1,831 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $38.63, for a total value of $70,731.53. Following the sale, the insider now owns 4,773 shares of the company’s stock, valued at approximately $184,380.99. The disclosure for this sale can be found here. Corporate insiders own 20.84% of the company’s stock.
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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