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

Advanced Drainage Systems, Inc. (NYSE:WMS - Get Free Report) was the recipient of a significant growth in short interest in 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. Based on an average daily volume of 686,100 shares, the days-to-cover ratio is presently 4.7 days. Currently, 4.5% of the company's stock are sold short.

Advanced Drainage Systems Stock Up 1.0%

Shares of NYSE:WMS traded up $1.12 on Friday, reaching $114.12. The company had a trading volume of 1,822,509 shares, compared to its average volume of 623,040. Advanced Drainage Systems has a twelve month low of $93.92 and a twelve month high of $179.57. The stock has a 50-day moving average price of $112.80 and a 200 day moving average price of $115.16. The stock has a market capitalization of $8.86 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.64 and a beta of 1.25. The company has a quick ratio of 2.10, a current ratio of 3.33 and a debt-to-equity ratio of 0.90.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The construction company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.06). Advanced Drainage Systems had a return on equity of 32.33% and a net margin of 15.50%. The business had revenue of $615.76 million for the quarter, compared to analyst estimates of $653.22 million. During the same period in the prior year, the firm posted $1.23 EPS. Advanced Drainage Systems's revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities analysts expect 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. Investors of record on Friday, May 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Friday, May 30th. This is a boost from Advanced Drainage Systems's previous quarterly dividend of $0.16. Advanced Drainage Systems's payout ratio is currently 12.50%.

Hedge Funds Weigh In On Advanced Drainage Systems

Large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Advanced Drainage Systems by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 593,562 shares of the construction company's stock valued at $68,616,000 after acquiring an additional 31,510 shares in the last quarter. Vident Advisory LLC raised its holdings in Advanced Drainage Systems by 23.0% in the 4th quarter. Vident Advisory LLC now owns 1,907 shares of the construction company's stock valued at $220,000 after acquiring an additional 356 shares in the last quarter. Two Sigma Investments LP acquired a new position in Advanced Drainage Systems in the 4th quarter valued at approximately $535,000. Asset Management One Co. Ltd. raised its holdings in Advanced Drainage Systems by 2.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 15,408 shares of the construction company's stock valued at $1,781,000 after acquiring an additional 296 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Advanced Drainage Systems by 2.2% in the 4th quarter. Bank of New York Mellon Corp now owns 591,552 shares of the construction company's stock valued at $68,383,000 after acquiring an additional 12,823 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Advanced Drainage Systems in a research note on Tuesday, April 1st. They issued a "buy" rating and a $134.00 target price on the stock. Oppenheimer lowered their target price on Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Robert W. Baird lowered their target price on Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Barclays boosted their target price on Advanced Drainage Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, KeyCorp lowered their target price on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $139.88.

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.