Advanced Drainage Systems, Inc. (NYSE:WMS) Increases Dividend to $0.16 Per Share

Advanced Drainage Systems, Inc. (NYSE:WMS - Get Free Report) declared a quarterly dividend on Thursday, May 16th, Zacks reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.16 per share by the construction company on Friday, June 14th. This represents a $0.64 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Friday, May 31st. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.14.

Advanced Drainage Systems has increased its dividend payment by an average of 14.5% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Advanced Drainage Systems has a payout ratio of 7.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Advanced Drainage Systems to earn $6.70 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 8.4%.

Advanced Drainage Systems Trading Up 1.0 %

Shares of Advanced Drainage Systems stock traded up $1.67 on Friday, hitting $174.11. 688,169 shares of the company's stock traded hands, compared to its average volume of 463,285. The firm's 50-day moving average price is $165.82 and its two-hundred day moving average price is $145.81. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 2.04. The stock has a market capitalization of $13.51 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.55 and a beta of 1.51. Advanced Drainage Systems has a one year low of $89.20 and a one year high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings data on Thursday, May 16th. The construction company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.28. The company had revenue of $653.80 million during the quarter, compared to the consensus estimate of $611.99 million. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The company's quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 EPS. On average, research analysts expect that Advanced Drainage Systems will post 6.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WMS has been the topic of a number of recent research reports. Stephens lifted their price target on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an "overweight" rating in a report on Friday. Oppenheimer boosted their target price on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, April 18th. Barclays upped their target price on shares of Advanced Drainage Systems from $189.00 to $202.00 and gave the stock an "overweight" rating in a report on Friday. Northcoast Research assumed coverage on shares of Advanced Drainage Systems in a report on Wednesday, May 8th. They issued a "buy" rating and a $190.00 price target on the stock. Finally, KeyCorp increased their target price on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $175.00.

Insider Transactions at Advanced Drainage Systems

In other Advanced Drainage Systems news, EVP Michael G. Huebert sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total value of $1,635,200.00. Following the completion of the sale, the executive vice president now directly owns 13,450 shares in the company, valued at $2,199,344. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Ross M. Jones sold 762,895 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the transaction, the director now owns 70,749 shares in the company, valued at approximately $11,532,087. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael G. Huebert sold 10,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total value of $1,635,200.00. Following the completion of the transaction, the executive vice president now directly owns 13,450 shares of the company's stock, valued at $2,199,344. The disclosure for this sale can be found here. Company insiders own 3.79% 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, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.