Short Interest in Advanced Drainage Systems, Inc. (NYSE:WMS) Rises By 15.1%

Advanced Drainage Systems, Inc. (NYSE:WMS) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,680,000 shares, a growth of 15.1% from the August 15th total of 1,460,000 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily volume of 553,900 shares, the short-interest ratio is presently 3.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WMS. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Advanced Drainage Systems by 319.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after buying an additional 115 shares during the period. Blue Trust Inc. raised its holdings in shares of Advanced Drainage Systems by 1,472.7% during the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock valued at $30,000 after buying an additional 162 shares during the period. West Oak Capital LLC lifted its position in Advanced Drainage Systems by 133.3% during the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Rise Advisors LLC purchased a new position in Advanced Drainage Systems in the 1st quarter worth approximately $32,000. Finally, GAMMA Investing LLC grew its position in Advanced Drainage Systems by 29.4% in the first quarter. GAMMA Investing LLC now owns 273 shares of the construction company’s stock valued at $47,000 after acquiring an additional 62 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Oppenheimer reiterated an “outperform” rating and issued a $192.00 target price on shares of Advanced Drainage Systems in a report on Thursday, August 15th. Barclays decreased their target price on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Robert W. Baird lowered their target price on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Loop Capital decreased their target price on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, StockNews.com downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.14.

Advanced Drainage Systems Price Performance

NYSE WMS traded up $1.50 during trading hours on Tuesday, reaching $149.92. The company’s stock had a trading volume of 766,798 shares, compared to its average volume of 499,066. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89. The company’s 50-day moving average is $156.69 and its two-hundred day moving average is $162.93. Advanced Drainage Systems has a fifty-two week low of $102.32 and a fifty-two week high of $184.27. The stock has a market cap of $11.62 billion, a PE ratio of 23.26, a PEG ratio of 1.22 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.08. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The business had revenue of $815.34 million during the quarter, compared to analysts’ expectations of $828.00 million. Analysts forecast that Advanced Drainage Systems will post 6.95 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, August 30th. Advanced Drainage Systems’s payout ratio is currently 9.94%.

About Advanced Drainage Systems

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