Advanced Drainage Systems, Inc. (NYSE:WMS) Sees Large Growth in Short Interest

Advanced Drainage Systems, Inc. (NYSE:WMS) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 2,620,000 shares, an increase of 19.6% from the February 13th total of 2,190,000 shares. Currently, 3.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 662,100 shares, the days-to-cover ratio is currently 4.0 days.

Advanced Drainage Systems Trading Up 1.9 %

NYSE:WMS traded up $2.09 during trading hours on Wednesday, hitting $111.98. The company had a trading volume of 554,768 shares, compared to its average volume of 538,537. The company has a market capitalization of $8.69 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. The stock has a 50-day moving average price of $118.26 and a 200 day moving average price of $132.07. Advanced Drainage Systems has a 52 week low of $101.90 and a 52 week high of $184.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. On average, equities research analysts predict that Advanced Drainage Systems will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 10.70%.

Institutional Trading of Advanced Drainage Systems

Several large investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc boosted its holdings in Advanced Drainage Systems by 3.6% in the third quarter. CIBC Asset Management Inc now owns 2,271 shares of the construction company’s stock valued at $357,000 after acquiring an additional 79 shares in the last quarter. UMB Bank n.a. lifted its position in Advanced Drainage Systems by 12.7% during the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock valued at $90,000 after buying an additional 88 shares during the period. Blue Trust Inc. lifted its position in Advanced Drainage Systems by 12.0% during the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company’s stock valued at $116,000 after buying an additional 108 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in Advanced Drainage Systems by 4.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,411 shares of the construction company’s stock valued at $379,000 after buying an additional 111 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in Advanced Drainage Systems by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,812 shares of the construction company’s stock valued at $231,000 after buying an additional 125 shares during the period. Institutional investors own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WMS shares. StockNews.com raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. UBS Group raised Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Wednesday, January 8th. Stephens reaffirmed an “equal weight” rating and issued a $135.00 target price on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Loop Capital cut their target price on Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, Barclays dropped their price objective on Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.25.

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.