Advanced Drainage Systems, Inc. (NYSE:WMS) Announces Quarterly Dividend of $0.18

Advanced Drainage Systems, Inc. (NYSE:WMS) announced a quarterly dividend on Thursday, May 15th, RTT News reports. Stockholders of record on Friday, May 30th will be paid a dividend of 0.18 per share by the construction company on Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.61%. This is a 12.5% increase from Advanced Drainage Systems’s previous quarterly dividend of $0.16.

Advanced Drainage Systems has increased its dividend payment by an average of 13.9% per year over the last three years and has increased its dividend every year for the last 1 years. Advanced Drainage Systems has a dividend payout ratio of 9.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Advanced Drainage Systems to earn $6.68 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 9.6%.

Advanced Drainage Systems Price Performance

Shares of Advanced Drainage Systems stock opened at $118.21 on Friday. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.13 and a beta of 1.31. Advanced Drainage Systems has a 1-year low of $93.92 and a 1-year high of $184.27. The firm has a fifty day simple moving average of $109.45 and a 200-day simple moving average of $119.74. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93.

Wall Street Analyst Weigh In

WMS has been the subject of several research analyst reports. KeyCorp cut their target price on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Stephens reiterated an “equal weight” rating and set a $135.00 target price on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Advanced Drainage Systems in a research note on Tuesday, April 1st. They set a “buy” rating and a $134.00 target price for the company. Loop Capital cut their target price on shares of 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, StockNews.com upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and a consensus target price of $149.25.

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.