Advanced Drainage Systems (WMS) Declares $0.14 Dividend
Advanced Drainage Systems said on May 18, 2023 that its board of directors declared a regular quarterly dividend of $0.14 per share ($0.56 annualized). Previously, the company paid $0.12 per share.
Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.
At the current share price of $98.40 / share, the stock's dividend yield is 0.57%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.72%, the lowest has been 0.31%, and the highest has been 1.53%. The standard deviation of yields is 0.34 (n=236).
The current dividend yield is 0.46 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.08. 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.
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What is the Fund Sentiment?
There are 752 funds or institutions reporting positions in Advanced Drainage Systems. This is an increase of 5 owner(s) or 0.67% in the last quarter. Average portfolio weight of all funds dedicated to WMS is 0.29%, a decrease of 22.77%. Total shares owned by institutions decreased in the last three months by 1.53% to 78,306K shares. 
The put/call ratio of WMS is 0.62, indicating a bullish outlook.
Analyst Price Forecast Suggests 15.51% Upside
As of May 11, 2023, the average one-year price target for Advanced Drainage Systems is 113.66. The forecasts range from a low of 94.94 to a high of $131.25. The average price target represents an increase of 15.51% from its latest reported closing price of 98.40.
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.
What are Other Shareholders Doing?
Impax Asset Management Group holds 3,542K shares representing 4.36% 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 3.16% 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 2.81% 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 2,270K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 2,119K shares, representing an increase of 6.65%. The firm decreased its portfolio allocation in WMS by 34.80% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,921K shares representing 2.37% ownership of the company. In it's prior filing, the firm reported owning 1,804K shares, representing an increase of 6.12%. The firm decreased its portfolio allocation in WMS by 35.00% 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.
Key filings for this company:
This story originally appeared on Fintel.