Advanced Drainage Systems Inc (NYSE:WMS) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 973,800 shares, a decrease of 15.7% from the May 30th total of 1,155,200 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average daily volume of 228,900 shares, the short-interest ratio is presently 4.3 days.
Several large investors have recently bought and sold shares of the company. GCA Investment Management LLC boosted its stake in Advanced Drainage Systems by 3.9% during the 4th quarter. GCA Investment Management LLC now owns 129,483 shares of the construction company’s stock valued at $3,140,000 after purchasing an additional 4,883 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Advanced Drainage Systems by 33,246.7% in the fourth quarter. Citigroup Inc. now owns 10,004 shares of the construction company’s stock valued at $242,000 after acquiring an additional 9,974 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Advanced Drainage Systems in the fourth quarter valued at approximately $1,237,000. LGT Capital Partners LTD. purchased a new stake in shares of Advanced Drainage Systems during the first quarter valued at approximately $2,487,000. Finally, Millennium Management LLC increased its position in shares of Advanced Drainage Systems by 5.0% during the fourth quarter. Millennium Management LLC now owns 157,802 shares of the construction company’s stock valued at $3,827,000 after acquiring an additional 7,540 shares during the last quarter. 78.78% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on WMS shares. ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research raised Waitr from a “sell” rating to a “hold” rating in a research report on Sunday. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Advanced Drainage Systems has an average rating of “Buy” and a consensus target price of $31.25.
Shares of NYSE:WMS opened at $32.78 on Friday. Advanced Drainage Systems has a twelve month low of $23.04 and a twelve month high of $33.50. The stock’s 50 day moving average price is $31.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.26 and a quick ratio of 0.98. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 26.87 and a beta of 0.95.
Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, May 23rd. The construction company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. Advanced Drainage Systems had a net margin of 5.39% and a return on equity of 37.25%. The business had revenue of $272.22 million during the quarter, compared to the consensus estimate of $274.41 million. During the same quarter last year, the firm posted ($0.03) EPS. Advanced Drainage Systems’s revenue was up 8.8% compared to the same quarter last year. As a group, research analysts anticipate that Advanced Drainage Systems will post 1.41 EPS for the current year.
The firm also recently disclosed a special dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were issued a dividend of $1.00 per share. This is a boost from Advanced Drainage Systems’s previous special dividend of $0.08. The ex-dividend date was Friday, May 31st. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 29.51%.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; 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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