Advanced Drainage Systems Inc (NYSE:WMS) Short Interest Down 12.3% in August

Advanced Drainage Systems Inc (NYSE:WMS) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 652,400 shares, a decline of 12.3% from the July 31st total of 743,700 shares. Based on an average daily trading volume, of 262,700 shares, the short-interest ratio is currently 2.5 days. Approximately 1.5% of the company’s stock are sold short.

A number of brokerages have recently commented on WMS. TheStreet cut shares of Advanced Drainage Systems from a “b” rating to a “c” rating in a report on Friday, August 2nd. Zacks Investment Research cut shares of Advanced Drainage Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Barclays boosted their target price on shares of Advanced Drainage Systems from $29.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. Finally, ValuEngine cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Advanced Drainage Systems presently has a consensus rating of “Hold” and an average price target of $33.25.

Advanced Drainage Systems stock traded down $0.16 during mid-day trading on Thursday, reaching $31.63. The stock had a trading volume of 10,631 shares, compared to its average volume of 305,811. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 25.92 and a beta of 0.88. The company has a 50-day moving average price of $32.40 and a two-hundred day moving average price of $29.57. Advanced Drainage Systems has a one year low of $23.04 and a one year high of $35.29. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.97 and a quick ratio of 1.03.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.29). The firm had revenue of $413.70 million during the quarter, compared to the consensus estimate of $413.64 million. Advanced Drainage Systems had a positive return on equity of 34.94% and a negative net margin of 12.86%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 EPS. On average, equities research analysts anticipate that Advanced Drainage Systems will post -3.12 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.09 dividend. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, August 29th. This represents a $0.36 dividend on an annualized basis and a yield of 1.14%. Advanced Drainage Systems’s payout ratio is presently 29.51%.

A number of institutional investors have recently made changes to their positions in WMS. Marshall Wace LLP boosted its stake in Advanced Drainage Systems by 1,497.6% in the 1st quarter. Marshall Wace LLP now owns 705,918 shares of the construction company’s stock worth $18,191,000 after purchasing an additional 661,733 shares in the last quarter. Cramer Rosenthal Mcglynn LLC purchased a new position in Advanced Drainage Systems in the 2nd quarter worth about $16,443,000. MIG Capital LLC raised its position in Advanced Drainage Systems by 75.7% in the 2nd quarter. MIG Capital LLC now owns 1,000,180 shares of the construction company’s stock worth $32,796,000 after buying an additional 430,987 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Advanced Drainage Systems in the 2nd quarter worth about $12,363,000. Finally, Bank of New York Mellon Corp raised its position in Advanced Drainage Systems by 27.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 894,858 shares of the construction company’s stock worth $29,342,000 after buying an additional 190,870 shares during the last quarter. Institutional investors own 78.92% of the company’s stock.

Advanced Drainage Systems Company Profile

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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