Short Interest in Advanced Drainage Systems, Inc. (NYSE:WMS) Expands By 22.9%

Advanced Drainage Systems, Inc. (NYSE:WMS - Get Free Report) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 3,220,000 shares, a growth of 22.9% from the May 15th total of 2,620,000 shares. Currently, 4.5% of the company's shares are short sold. Based on an average daily trading volume, of 686,100 shares, the days-to-cover ratio is currently 4.7 days.

Advanced Drainage Systems Stock Down 0.5%

Advanced Drainage Systems stock traded down $0.62 during midday trading on Wednesday, reaching $112.96. The stock had a trading volume of 773,266 shares, compared to its average volume of 618,258. The firm's fifty day simple moving average is $112.42 and its 200-day simple moving average is $115.45. Advanced Drainage Systems has a 1-year low of $93.92 and a 1-year high of $179.57. The stock has a market capitalization of $8.77 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 1.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.10 and a current ratio of 3.33.

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

Advanced Drainage Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.18 per share. This is a positive change from Advanced Drainage Systems's previous quarterly dividend of $0.16. The ex-dividend date was Friday, May 30th. This represents a $0.72 annualized dividend and a dividend yield of 0.64%. Advanced Drainage Systems's payout ratio is 12.50%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WMS. NBC Securities Inc. acquired a new position in shares of Advanced Drainage Systems during the 1st quarter worth approximately $26,000. Bessemer Group Inc. increased its holdings in shares of Advanced Drainage Systems by 76.2% during the 1st quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock worth $29,000 after acquiring an additional 115 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Advanced Drainage Systems during the 1st quarter worth approximately $66,000. Signaturefd LLC increased its holdings in shares of Advanced Drainage Systems by 110.7% during the 1st quarter. Signaturefd LLC now owns 670 shares of the construction company's stock worth $73,000 after acquiring an additional 352 shares during the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Advanced Drainage Systems during the 4th quarter worth approximately $74,000. Institutional investors and hedge funds own 89.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WMS shares. Loop Capital dropped their price target on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. KeyCorp dropped their price target on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird dropped their price target on Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. UBS Group dropped their price target on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, Barclays raised their price target on Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $139.88.

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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