Advanced Drainage Systems Inc Announces Quarterly Dividend of $0.07 (WMS)

Advanced Drainage Systems Inc (NYSE:WMS) announced a quarterly dividend on Thursday, February 8th, RTT News reports. Stockholders of record on Thursday, March 1st will be given a dividend of 0.07 per share by the construction company on Thursday, March 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.18%.

Advanced Drainage Systems has increased its dividend by an average of 89.0% annually over the last three years and has increased its dividend every year for the last 2 years. Advanced Drainage Systems has a dividend payout ratio of 52.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Advanced Drainage Systems to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 35.0%.

Advanced Drainage Systems (WMS) traded up $1.40 during mid-day trading on Thursday, hitting $23.75. 31,453 shares of the stock were exchanged, compared to its average volume of 191,844. The stock has a market capitalization of $1,255.66, a PE ratio of 60.41 and a beta of 1.00. The company has a quick ratio of 1.32, a current ratio of 2.26 and a debt-to-equity ratio of 4.47. Advanced Drainage Systems has a twelve month low of $17.90 and a twelve month high of $25.20.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, February 8th. The construction company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.27. The business had revenue of $320.83 million during the quarter, compared to analysts’ expectations of $320.41 million. Advanced Drainage Systems had a net margin of 1.97% and a return on equity of 41.08%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 earnings per share. equities research analysts expect that Advanced Drainage Systems will post 0.53 earnings per share for the current year.

Several equities analysts have recently commented on WMS shares. Barclays started coverage on shares of Advanced Drainage Systems in a report on Wednesday, December 20th. They issued an “equal weight” rating and a $24.00 price objective on the stock. Citigroup began coverage on shares of Advanced Drainage Systems in a research report on Wednesday, November 29th. They set a “neutral” rating and a $26.00 price objective on the stock. ValuEngine raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Friday, November 17th. Robert W. Baird raised their target price on shares of Advanced Drainage Systems from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Finally, TheStreet cut shares of Advanced Drainage Systems from a “b-” rating to a “c+” rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $24.60.

In other news, COO Ronald R. Vitarelli sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $23.04, for a total value of $115,200.00. Following the completion of the sale, the chief operating officer now owns 54,698 shares in the company, valued at approximately $1,260,241.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas M. Fussner sold 18,325 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $23.67, for a total transaction of $433,752.75. Following the completion of the sale, the chief operating officer now owns 549,519 shares of the company’s stock, valued at approximately $13,007,114.73. The disclosure for this sale can be found here. 21.43% of the stock is currently owned by company insiders.

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About Advanced Drainage Systems

Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.

Dividend History for Advanced Drainage Systems (NYSE:WMS)

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