Advanced Drainage Systems (NYSE:WMS) Shares Gap Up After Dividend Announcement

Shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Get Free Report) gapped up before the market opened on Thursday after the company announced a dividend. The stock had previously closed at $116.01, but opened at $122.12. Advanced Drainage Systems shares last traded at $113.84, with a volume of 49,014 shares traded.

The newly announced dividend which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.51%. Advanced Drainage Systems's dividend payout ratio is 10.70%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WMS shares. Stephens restated an "equal weight" rating and issued a $135.00 price objective on shares of Advanced Drainage Systems in a report on Friday. Barclays dropped their price target on shares of Advanced Drainage Systems from $160.00 to $149.00 and set an "overweight" rating on the stock in a research note on Friday. UBS Group raised shares of Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price objective for the company in a research note on Wednesday, January 8th. KeyCorp lowered their target price on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. Finally, Loop Capital reduced their price target on Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating for the company in a research report on Friday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $164.25.

Advanced Drainage Systems Trading Up 4.0 %

The company has a quick ratio of 2.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $121.34 and a 200-day moving average price of $139.97. The company has a market capitalization of $9.71 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 1.13 and a beta of 1.52.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. Research analysts predict that Advanced Drainage Systems, Inc. will post 6.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Advanced Drainage Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank boosted its holdings in Advanced Drainage Systems by 123.1% in the 3rd quarter. Huntington National Bank now owns 386 shares of the construction company's stock valued at $61,000 after purchasing an additional 213 shares during the period. Millburn Ridgefield Corp raised its position in shares of Advanced Drainage Systems by 642.4% during the third quarter. Millburn Ridgefield Corp now owns 490 shares of the construction company's stock valued at $77,000 after buying an additional 424 shares during the last quarter. CWM LLC lifted its stake in shares of Advanced Drainage Systems by 18.1% in the third quarter. CWM LLC now owns 555 shares of the construction company's stock valued at $87,000 after buying an additional 85 shares during the period. UMB Bank n.a. grew its position in Advanced Drainage Systems by 20.5% during the third quarter. UMB Bank n.a. now owns 693 shares of the construction company's stock worth $109,000 after buying an additional 118 shares in the last quarter. Finally, Spire Wealth Management bought a new position in Advanced Drainage Systems during the fourth quarter valued at about $94,000. Institutional investors own 89.83% 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 North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.