Short Interest in Advanced Drainage Systems, Inc. (NYSE:WMS) Expands By 28.1%

Advanced Drainage Systems, Inc. (NYSE:WMSGet Rating) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 1,870,000 shares, a growth of 28.1% from the May 15th total of 1,460,000 shares. Based on an average daily trading volume, of 425,700 shares, the short-interest ratio is presently 4.4 days. Approximately 2.6% of the shares of the stock are sold short.

Several research analysts have commented on the stock. TheStreet downgraded shares of Advanced Drainage Systems from a “b” rating to a “c+” rating in a report on Thursday, May 19th. Robert W. Baird decreased their price objective on shares of Advanced Drainage Systems from $158.00 to $137.00 and set an “outperform” rating on the stock in a research report on Friday, May 20th. Barclays decreased their price objective on shares of Advanced Drainage Systems from $162.00 to $138.00 and set an “overweight” rating on the stock in a research report on Friday, May 20th. Morgan Stanley reduced their price target on shares of Advanced Drainage Systems from $145.00 to $142.00 and set an “overweight” rating on the stock in a research report on Friday, May 20th. Finally, StockNews.com assumed coverage on shares of Advanced Drainage Systems in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Buy” and a consensus target price of $143.75.

Shares of NYSE WMS traded down $6.56 during midday trading on Thursday, hitting $86.51. The stock had a trading volume of 20,407 shares, compared to its average volume of 449,078. The business’s 50 day moving average is $105.22 and its 200-day moving average is $116.12. The company has a market cap of $7.34 billion, a P/E ratio of 29.55 and a beta of 1.36. Advanced Drainage Systems has a 52 week low of $89.28 and a 52 week high of $138.02. The company has a quick ratio of 0.97, a current ratio of 2.23 and a debt-to-equity ratio of 1.01.

Advanced Drainage Systems (NYSE:WMSGet Rating) last issued its quarterly earnings data on Thursday, May 19th. The construction company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.18). The company had revenue of $678.20 million for the quarter, compared to the consensus estimate of $623.91 million. Advanced Drainage Systems had a net margin of 9.75% and a return on equity of 37.32%. The firm’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. As a group, analysts expect that Advanced Drainage Systems will post 3.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were issued a dividend of $0.12 per share. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Tuesday, May 31st. Advanced Drainage Systems’s dividend payout ratio is currently 15.24%.

In other news, EVP Darin S. Harvey sold 20,000 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $112.55, for a total transaction of $2,251,000.00. Following the transaction, the executive vice president now owns 4,600 shares of the company’s stock, valued at approximately $517,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anil Seetharam sold 108,926 shares of the firm’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $108.69, for a total transaction of $11,839,166.94. Following the completion of the transaction, the director now directly owns 6,054,573 shares in the company, valued at approximately $658,071,539.37. The disclosure for this sale can be found here. Insiders have sold 328,926 shares of company stock valued at $36,580,167 over the last quarter. Company insiders own 9.33% of the company’s stock.

A number of hedge funds have recently made changes to their positions in WMS. Allspring Global Investments Holdings LLC bought a new position in shares of Advanced Drainage Systems during the fourth quarter worth $156,123,000. Alyeska Investment Group L.P. lifted its position in Advanced Drainage Systems by 620.5% during the first quarter. Alyeska Investment Group L.P. now owns 770,259 shares of the construction company’s stock valued at $91,514,000 after purchasing an additional 663,347 shares during the last quarter. Boston Partners lifted its position in Advanced Drainage Systems by 73.5% during the fourth quarter. Boston Partners now owns 1,415,975 shares of the construction company’s stock valued at $192,734,000 after purchasing an additional 599,778 shares during the last quarter. Norges Bank bought a new position in Advanced Drainage Systems during the fourth quarter valued at $76,032,000. Finally, JPMorgan Chase & Co. lifted its position in Advanced Drainage Systems by 47.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,730,806 shares of the construction company’s stock valued at $235,614,000 after purchasing an additional 553,911 shares during the last quarter. 98.10% of the stock is owned by institutional investors and hedge funds.

About Advanced Drainage Systems (Get Rating)

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the underground construction and infrastructure marketplace in the United States, Canada, Mexico, and internationally. It operates through Pipe, International and Infiltrator, and Allied Products & Other segments.

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