Fintel reports that on July 24, 2023, Keybanc initiated coverage of Advanced Drainage Systems (NYSE:WMS) with a Overweight recommendation.
Analyst Price Forecast Suggests 1.34% Downside
As of July 6, 2023, the average one-year price target for Advanced Drainage Systems is 120.36. The forecasts range from a low of 103.02 to a high of $137.55. The average price target represents a decrease of 1.34% from its latest reported closing price of 122.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Advanced Drainage Systems is 3,085MM, an increase of 0.45%. The projected annual non-GAAP EPS is 6.00.
Advanced Drainage Systems Declares $0.14 Dividend
On May 18, 2023 the company declared a regular quarterly dividend of $0.14 per share ($0.56 annualized). Shareholders of record as of June 1, 2023 received the payment on June 15, 2023. Previously, the company paid $0.12 per share.
At the current share price of $122.00 / share, the stock's dividend yield is 0.46%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.70%, the lowest has been 0.31%, and the highest has been 1.53%. The standard deviation of yields is 0.33 (n=235).
The current dividend yield is 0.73 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.56%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 775 funds or institutions reporting positions in Advanced Drainage Systems. This is an increase of 11 owner(s) or 1.44% in the last quarter. Average portfolio weight of all funds dedicated to WMS is 0.26%, a decrease of 21.60%. Total shares owned by institutions decreased in the last three months by 2.10% to 77,032K shares. 
The put/call ratio of WMS is 0.64, indicating a bullish outlook.
What are Other Shareholders Doing?
Impax Asset Management Group holds 3,542K shares representing 4.47% ownership of the company. In it's prior filing, the firm reported owning 2,802K shares, representing an increase of 20.90%. The firm increased its portfolio allocation in WMS by 21.31% over the last quarter.
Baillie Gifford holds 2,566K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 118K shares, representing an increase of 95.41%. The firm increased its portfolio allocation in WMS by 1,837.05% over the last quarter.
Capital International Investors holds 2,283K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 2,445K shares, representing a decrease of 7.09%. The firm decreased its portfolio allocation in WMS by 8.07% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,268K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 2,270K shares, representing a decrease of 0.09%. The firm decreased its portfolio allocation in WMS by 5.22% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,930K shares representing 2.43% ownership of the company.
Advanced Drainage Systems Background Information
(This description is provided by the company.)
Advanced Drainage Systems is a leading provider of innovative water management solutions in the stormwater and on-site septic wastewater industries, providing superior drainage solutions for use in the construction and agriculture marketplace. For over 50 years, the Company has been manufacturing a variety of innovative and environmentally friendly alternatives to traditional materials. Its innovative products are used across a broad range of end markets and applications, including non-residential, residential, infrastructure and agriculture applications. The Company has established a leading position in many of these end markets by leveraging its national sales and distribution platform, overall product breadth and scale and manufacturing excellence. Founded in 1966, the Company operates a global network of approximately 60 manufacturing plants and 30 distribution centers.
Additional reading:
- 2 3 4 5 • • • • • • • • • • • • • • 6 ● 7 8 10 11 Addressable Market FY23 Revenue • • • • • Key Growth Strategies: • • • • 1 2 13 • • • • • • • • • • • • • • • • • • Reconciliations 14 (In thousands) Net Sales Intersegment Net Sales Net Sales from Ex
- ADVANCED DRAINAGE SYSTEMS ANNOUNCES FOURTH QUARTER AND FISCAL YEAR 2023 RESULTS
- ADVANCED DRAINAGE SYSTEMS ANNOUNCES INCREASE IN QUARTERLY CASH DIVIDEND
- List of Subsidiaries. #
- Power of Attorney. #
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
