Advanced Drainage Systems (WMS) Sees Strong Trading Volume After Better-Than-Expected Earnings

Shares of Advanced Drainage Systems Inc (NYSE:WMS) saw an uptick in trading volume on Thursday following a stronger than expected earnings report. 847,664 shares were traded during mid-day trading, an increase of 372% from the previous session’s volume of 179,756 shares.The stock last traded at $29.90 and had previously closed at $27.44.

The construction company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. Advanced Drainage Systems had a net margin of 4.98% and a return on equity of 37.87%. The company had revenue of $272.22 million during the quarter, compared to the consensus estimate of $274.41 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. Advanced Drainage Systems’s revenue for the quarter was up 8.8% on a year-over-year basis.

The business also recently disclosed a special dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be paid a $1.00 dividend. Advanced Drainage Systems’s dividend payout ratio is presently 39.51%.



Separately, Zacks Investment Research downgraded shares of Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research note on Saturday, April 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Advanced Drainage Systems currently has an average rating of “Hold” and an average target price of $30.50.

In other news, EVP Ronald R. Vitarelli sold 2,500 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $25.47, for a total transaction of $63,675.00. Following the completion of the sale, the executive vice president now owns 30,285 shares in the company, valued at $771,358.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 20.97% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. MIG Capital LLC purchased a new position in Advanced Drainage Systems in the first quarter valued at about $14,668,000. Schonfeld Strategic Advisors LLC increased its holdings in Advanced Drainage Systems by 739.3% in the first quarter. Schonfeld Strategic Advisors LLC now owns 79,200 shares of the construction company’s stock valued at $2,041,000 after buying an additional 69,764 shares in the last quarter. Metropolitan Life Insurance Co NY increased its holdings in Advanced Drainage Systems by 11.2% in the first quarter. Metropolitan Life Insurance Co NY now owns 13,104 shares of the construction company’s stock valued at $1,121,000 after buying an additional 1,323 shares in the last quarter. Oxford Asset Management LLP increased its holdings in Advanced Drainage Systems by 51.7% in the first quarter. Oxford Asset Management LLP now owns 78,448 shares of the construction company’s stock valued at $2,022,000 after buying an additional 26,735 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in Advanced Drainage Systems by 8.7% in the first quarter. ArrowMark Colorado Holdings LLC now owns 312,000 shares of the construction company’s stock valued at $8,040,000 after buying an additional 25,000 shares in the last quarter. Institutional investors and hedge funds own 82.92% of the company’s stock.

The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 2.24. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 36.91 and a beta of 1.01.

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About Advanced Drainage Systems (NYSE:WMS)

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

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