Advanced Drainage Systems, Inc. (NYSE:WMS) released its earnings results on Thursday, May 25th. The construction company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.14, Bloomberg Earnings reports. Advanced Drainage Systems had a return on equity of 102.23% and a net margin of 3.05%. The company had revenue of $244.20 million during the quarter, compared to the consensus estimate of $228.82 million. During the same period last year, the firm posted $0.17 earnings per share. The company’s revenue was down .5% compared to the same quarter last year.
Shares of Advanced Drainage Systems (WMS) traded up 1.25% on Friday, hitting $20.25. The stock had a trading volume of 505,845 shares. The company’s 50 day moving average price is $21.33 and its 200-day moving average price is $21.99. The company has a market cap of $1.12 billion, a P/E ratio of 40.50 and a beta of 0.93. Advanced Drainage Systems has a 12 month low of $18.60 and a 12 month high of $28.49.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, June 5th were issued a dividend of $0.07 per share. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, June 1st. Advanced Drainage Systems’s dividend payout ratio is presently 50.00%.
Several equities research analysts have commented on WMS shares. Zacks Investment Research raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Tuesday, March 28th. Royal Bank of Canada reissued a “hold” rating and issued a $25.00 target price on shares of Advanced Drainage Systems in a report on Monday, April 24th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, May 25th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $27.00.
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In other news, Chairman Joseph A. Chlapaty acquired 10,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were bought at an average price of $20.28 per share, with a total value of $202,800.00. Following the completion of the acquisition, the chairman now owns 227,786 shares in the company, valued at approximately $4,619,500.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph A. Chlapaty acquired 30,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were purchased at an average cost of $19.39 per share, for a total transaction of $581,700.00. Following the acquisition, the chief executive officer now owns 227,786 shares of the company’s stock, valued at approximately $4,416,770.54. The disclosure for this purchase can be found here. Company insiders own 22.55% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Sei Investments Co. purchased a new position in shares of Advanced Drainage Systems during the first quarter valued at about $157,000. Manchester Capital Management LLC raised its position in shares of Advanced Drainage Systems by 3,123.3% in the first quarter. Manchester Capital Management LLC now owns 9,670 shares of the construction company’s stock valued at $212,000 after buying an additional 9,370 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in shares of Advanced Drainage Systems during the first quarter valued at $238,000. Highbridge Capital Management LLC acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at $278,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at $279,000. 79.96% of the stock is currently owned by institutional investors.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.
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