Advanced Drainage Systems (WMS) Declares $0.12 Dividend
Advanced Drainage Systems said on February 2, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.48 annualized). Shareholders of record as of February 28, 2023 will receive the payment on March 15, 2023. Previously, the company paid $0.12 per share.
At the current share price of $92.79 / share, the stock's dividend yield is 0.52%. Looking back five years and taking a sample every week, the average dividend yield has been 0.76%, the lowest has been 0.31%, and the highest has been 1.53%. The standard deviation of yields is 0.35 (n=236).
The current dividend yield is 0.68 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 0.33%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 33.19% Upside
As of February 5, 2023, the average one-year price target for Advanced Drainage Systems is $123.59. The forecasts range from a low of $94.94 to a high of $147.00. The average price target represents an increase of 33.19% from its latest reported closing price of $92.79.
The projected annual revenue for Advanced Drainage Systems is $3,178MM, an increase of 1.48%. The projected annual EPS is $6.17, an increase of 7.11%.
Fund Sentiment
There are 760 funds or institutions reporting positions in Advanced Drainage Systems. This is an increase of 73 owner(s) or 10.63%.
Average portfolio weight of all funds dedicated to US:WMS is 0.3885%, an increase of 6.5001%. Total shares owned by institutions increased in the last three months by 2.29% to 79,690K shares.
What are large shareholders doing?
Canada Pension Plan Investment Board holds 3,189,240 shares representing 3.85% ownership of the company. No change in the last quarter.
Impax Asset Management Group holds 2,501,837 shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 2,784,456 shares, representing a decrease of 11.30%. The firm increased its portfolio allocation in WMS by 30.81% over the last quarter.
Capital International Investors holds 2,457,212 shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 1,760,809 shares, representing an increase of 28.34%. The firm increased its portfolio allocation in WMS by 106.61% over the last quarter.
Artisan Partners Limited Partnership holds 2,274,372 shares representing 2.74% ownership of the company. In it's prior filing, the firm reported owning 2,283,863 shares, representing a decrease of 0.42%. The firm increased its portfolio allocation in WMS by 43.08% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,118,935 shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 2,116,187 shares, representing an increase of 0.13%. The firm increased its portfolio allocation in WMS by 44.12% over the last quarter.
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.
This story originally appeared on Fintel.