Advanced Drainage Systems, Inc. (NYSE:WMS) Raises Dividend to $0.18 Per Share

Advanced Drainage Systems, Inc. (NYSE:WMS) declared a quarterly dividend on Thursday, May 15th, RTT News reports. Investors 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 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 raised its dividend by an average of 13.9% annually over the last three years and has increased its dividend every year for the last 1 years. Advanced Drainage Systems has a 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 Stock Performance

Shares of WMS opened at $118.21 on Friday. The company’s 50 day moving average price is $109.45 and its 200 day moving average price is $119.74. Advanced Drainage Systems has a 52 week low of $93.92 and a 52 week high of $184.27. The company has a market capitalization of $9.17 billion, a PE ratio of 19.77, a PEG ratio of 1.13 and a beta of 1.31. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.98 and a current ratio of 3.21.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WMS. KeyCorp lowered their price objective on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Loop Capital reduced 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. Barclays reduced their target price on shares of Advanced Drainage Systems from $149.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Advanced Drainage Systems in a research note on Tuesday, April 1st. They issued a “buy” rating and a $134.00 target price for the company. Finally, Stephens reiterated 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. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Advanced Drainage Systems has an average rating of “Moderate Buy” and an average price target of $149.25.

About Advanced Drainage Systems

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.