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

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

Advanced Drainage Systems Trading Down 0.6%

NYSE WMS opened at $171.10 on Monday. The firm has a market capitalization of $13.33 billion, a PE ratio of 28.47, a P/E/G ratio of 2.02 and a beta of 1.27. The stock’s 50 day moving average is $159.21 and its 200 day moving average is $149.27. Advanced Drainage Systems has a twelve month low of $93.92 and a twelve month high of $179.32. The company has a quick ratio of 3.08, a current ratio of 4.12 and a debt-to-equity ratio of 0.72.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, February 5th. The construction company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.11 by $0.16. The business had revenue of $693.35 million during 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 for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. Research analysts forecast that Advanced Drainage Systems will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

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

Insiders Place Their Bets

In other Advanced Drainage Systems news, Director Robert M. Eversole sold 10,569 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $152.82, for a total value of $1,615,154.58. Following the sale, the director owned 50,076 shares of the company’s stock, valued at $7,652,614.32. This trade represents a 17.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Advanced Drainage Systems

Large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of Advanced Drainage Systems by 352.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after buying an additional 176 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Advanced Drainage Systems in the third quarter worth $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Advanced Drainage Systems in the third quarter worth $33,000. Cullen Frost Bankers Inc. increased its holdings in shares of Advanced Drainage Systems by 1,242.1% during the third quarter. Cullen Frost Bankers Inc. now owns 255 shares of the construction company’s stock valued at $35,000 after acquiring an additional 236 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Advanced Drainage Systems in the 3rd quarter worth about $36,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Oppenheimer raised their target price on Advanced Drainage Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Wednesday, January 21st. Robert W. Baird set a $205.00 target price on Advanced Drainage Systems in a report on Friday, February 6th. UBS Group set a $215.00 price target on Advanced Drainage Systems and gave the stock a “buy” rating in a research note on Friday, February 6th. Finally, KeyCorp boosted their price objective on shares of Advanced Drainage Systems from $180.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.00.

About Advanced Drainage Systems

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.