Advanced Drainage Systems, Inc. (WMS) To Go Ex-Dividend on August 30th
Advanced Drainage Systems, Inc. (NYSE:WMS) announced a quarterly dividend on Thursday, August 3rd, RTT News reports. Shareholders of record on Friday, September 1st will be given a dividend of 0.07 per share by the construction company on Friday, September 15th. This represents a $0.28 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, August 30th.
Advanced Drainage Systems has a dividend payout ratio of 45.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Advanced Drainage Systems to earn $0.89 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 31.5%.
Shares of Advanced Drainage Systems (NYSE WMS) opened at 19.65 on Tuesday. The firm has a market cap of $1.09 billion, a PE ratio of 39.86 and a beta of 0.92. The firm’s 50-day moving average is $20.15 and its 200-day moving average is $21.34. Advanced Drainage Systems has a 12-month low of $18.40 and a 12-month high of $26.30.
Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.06. Advanced Drainage Systems had a return on equity of 62.10% and a net margin of 2.50%. The firm had revenue of $358.36 million for the quarter, compared to analyst estimates of $372.63 million. During the same period in the previous year, the business posted $0.29 EPS. Advanced Drainage Systems’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts expect that Advanced Drainage Systems will post $1.09 earnings per share for the current fiscal year.
In related news, major shareholder Berkshire Partners Holdings Ll purchased 3,446,293 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were acquired at an average price of $20.32 per share, with a total value of $70,028,673.76. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joseph A. Chlapaty purchased 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was bought at an average cost of $19.39 per share, for a total transaction of $581,700.00. Following the purchase, the chief executive officer now owns 227,786 shares in the company, valued at $4,416,770.54. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 3,486,293 shares of company stock worth $70,813,174. 21.43% of the stock is owned by insiders.
Several brokerages have recently weighed in on WMS. BidaskClub lowered Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Zacks Investment Research lowered Advanced Drainage Systems from a “buy” rating to a “sell” rating in a research note on Thursday, August 10th. ValuEngine lowered Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Boenning Scattergood reaffirmed a “hold” rating on shares of Advanced Drainage Systems in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Advanced Drainage Systems in a research note on Friday, May 26th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Advanced Drainage Systems has a consensus rating of “Hold” and a consensus price target of $25.33.
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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.
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