Advanced Drainage Systems Inc. (WMS) Trading 1.9% Higher on Earnings Beat
Advanced Drainage Systems Inc. (NYSE:WMS)’s share price rose 1.9% during trading on Friday following a stronger than expected earnings report. The company traded as high as $22.18 and last traded at $22.00, with a volume of 394,138 shares trading hands. The stock had previously closed at $21.58.
The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.13. Advanced Drainage Systems had a net margin of 1.60% and a return on equity of 120.26%. The firm earned $358 million during the quarter.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.11%. The ex-dividend date was Tuesday, August 30th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/07/advanced-drainage-systems-inc-wms-trading-1-9-higher-on-earnings-beat.html
WMS has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 30th. Boenning Scattergood cut shares of Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 11th. Finally, Royal Bank Of Canada dropped their price objective on shares of Advanced Drainage Systems from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $28.33.
Institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its position in Advanced Drainage Systems by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 109,781 shares of the company’s stock valued at $3,005,000 after buying an additional 1,950 shares during the last quarter. Paloma Partners Management Co acquired a new position in Advanced Drainage Systems during the second quarter valued at about $1,069,000. Weiss Multi Strategy Advisers LLC acquired a new position in Advanced Drainage Systems during the second quarter valued at about $3,353,000. Guggenheim Capital LLC increased its position in Advanced Drainage Systems by 23.4% in the second quarter. Guggenheim Capital LLC now owns 92,861 shares of the company’s stock valued at $2,542,000 after buying an additional 17,607 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in Advanced Drainage Systems by 135.6% in the second quarter. Parametric Portfolio Associates LLC now owns 110,771 shares of the company’s stock valued at $3,032,000 after buying an additional 63,757 shares during the last quarter. 70.62% of the stock is owned by hedge funds and other institutional investors.
The firm has a market capitalization of $1.63 billion, a PE ratio of 81.48 and a beta of 0.85. The stock’s 50-day moving average is $23.75 and its 200-day moving average is $24.62.
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.
Receive News & Ratings for Advanced Drainage Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Drainage Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.