Advanced Drainage Systems, Inc. (NYSE:WMS) Sees Large Growth in Short Interest

Advanced Drainage Systems, Inc. (NYSE:WMS) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,620,000 shares, a growth of 19.6% from the February 13th total of 2,190,000 shares. Based on an average daily trading volume, of 662,100 shares, the days-to-cover ratio is currently 4.0 days. Currently, 3.7% of the company’s stock are sold short.

Institutional Investors Weigh In On Advanced Drainage Systems

A number of large investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in shares of Advanced Drainage Systems by 3.9% during the 4th quarter. California State Teachers Retirement System now owns 68,651 shares of the construction company’s stock valued at $7,936,000 after purchasing an additional 2,601 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Advanced Drainage Systems during the 4th quarter valued at about $3,641,000. EDENTREE ASSET MANAGEMENT Ltd grew its stake in shares of Advanced Drainage Systems by 122.9% during the 4th quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 15,055 shares of the construction company’s stock valued at $1,740,000 after purchasing an additional 8,300 shares during the period. Novem Group bought a new stake in shares of Advanced Drainage Systems during the 4th quarter valued at about $689,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Advanced Drainage Systems by 63.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,064,527 shares of the construction company’s stock valued at $238,659,000 after purchasing an additional 799,569 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on WMS. Stephens reaffirmed an “equal weight” rating and issued a $135.00 price target on shares of Advanced Drainage Systems in a research report on Friday, February 7th. Loop Capital lowered their price target on Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Barclays lowered their price target on Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. UBS Group raised Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Wednesday, January 8th. Finally, StockNews.com raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.25.

Advanced Drainage Systems Stock Performance

NYSE WMS traded up $2.09 during trading hours on Wednesday, hitting $111.98. The company’s stock had a trading volume of 554,768 shares, compared to its average volume of 538,537. Advanced Drainage Systems has a 12 month low of $101.90 and a 12 month high of $184.27. The company’s 50 day simple moving average is $118.26 and its two-hundred day simple moving average is $132.07. The company has a market cap of $8.69 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. As a group, sell-side analysts expect that Advanced Drainage Systems will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.57%. Advanced Drainage Systems’s dividend payout ratio is currently 10.70%.

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.