Advanced Drainage Systems, Inc. (NYSE:WMS) Short Interest Update

Key Points

• Advanced Drainage Systems, Inc. saw a 168.8% increase in short interest in July, with a total of 3,710,000 shares short sold as of July 15th.
• The company recently increased its quarterly dividend from $0.16 to $0.18 per share, marking an annualized dividend yield of 0.6%.
• Despite missing EPS estimates with a reported $1.03, analysts expect the company to post an EPS of 6.1 for the current year, with a consensus price target of $139.88 from a rating of "Moderate Buy."

Advanced Drainage Systems, Inc. (NYSE:WMS - Get Free Report) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 3,710,000 shares, anincreaseof168.8% from the June 30th total of 1,380,000 shares. Approximately5.2% of the shares of the stock are short sold. Based on an average daily volume of 730,300 shares, the short-interest ratio is presently 5.1 days. Based on an average daily volume of 730,300 shares, the short-interest ratio is presently 5.1 days. Approximately5.2% of the shares of the stock are short sold.

Advanced Drainage Systems Stock Down 0.9%

WMS opened at $113.75 on Monday. The business has a 50 day moving average price of $115.23 and a two-hundred day moving average price of $114.42. The company has a quick ratio of 2.10, a current ratio of 3.33 and a debt-to-equity ratio of 0.90. The company has a market cap of $8.83 billion, a PE ratio of 19.75, a P/E/G ratio of 1.65 and a beta of 1.27. Advanced Drainage Systems has a 52 week low of $93.92 and a 52 week high of $166.03.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its earnings results on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.09 by ($0.06). The company had revenue of $615.76 million for the quarter, compared to analyst estimates of $653.22 million. Advanced Drainage Systems had a net margin of 15.50% and a return on equity of 32.33%. Advanced Drainage Systems's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.23 EPS. As a group, research analysts anticipate that Advanced Drainage Systems will post 6.1 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.6%. This is a positive change from Advanced Drainage Systems's previous quarterly dividend of $0.16. The ex-dividend date was Friday, May 30th. Advanced Drainage Systems's payout ratio is 12.50%.

Wall Street Analyst Weigh In

WMS has been the topic of a number of research analyst reports. Barclays upped their target price on Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Oppenheimer lowered their price objective on Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. UBS Group lowered their price objective on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Loop Capital lowered their price objective on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, KeyCorp lowered their price objective on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $139.88.

Institutional Investors Weigh In On Advanced Drainage Systems

Several hedge funds have recently made changes to their positions in WMS. Louisiana State Employees Retirement System raised its position in Advanced Drainage Systems by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the construction company's stock valued at $2,286,000 after purchasing an additional 100 shares during the period. US Bancorp DE raised its position in Advanced Drainage Systems by 5.7% in the first quarter. US Bancorp DE now owns 2,017 shares of the construction company's stock valued at $219,000 after purchasing an additional 109 shares during the period. Bessemer Group Inc. raised its position in Advanced Drainage Systems by 76.2% in the first quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock valued at $29,000 after purchasing an additional 115 shares during the period. Phoenix Financial Ltd. raised its position in Advanced Drainage Systems by 5.2% in the first quarter. Phoenix Financial Ltd. now owns 2,463 shares of the construction company's stock valued at $269,000 after purchasing an additional 121 shares during the period. Finally, Isthmus Partners LLC raised its position in Advanced Drainage Systems by 5.5% in the first quarter. Isthmus Partners LLC now owns 2,875 shares of the construction company's stock valued at $312,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 89.83% of the company's stock.

About Advanced Drainage Systems

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.

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