Principal Financial Group Inc. Trims Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Principal Financial Group Inc. reduced its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 27.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,879 shares of the construction company’s stock after selling 63,211 shares during the period. Principal Financial Group Inc.’s holdings in Advanced Drainage Systems were worth $25,755,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WMS. Empowered Funds LLC increased its holdings in Advanced Drainage Systems by 10.1% during the first quarter. Empowered Funds LLC now owns 7,696 shares of the construction company’s stock valued at $1,326,000 after buying an additional 707 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in Advanced Drainage Systems during the first quarter valued at approximately $201,000. Russell Investments Group Ltd. increased its holdings in Advanced Drainage Systems by 63.0% during the first quarter. Russell Investments Group Ltd. now owns 66,714 shares of the construction company’s stock valued at $11,474,000 after buying an additional 25,786 shares during the last quarter. US Bancorp DE increased its stake in shares of Advanced Drainage Systems by 11.8% in the first quarter. US Bancorp DE now owns 2,475 shares of the construction company’s stock worth $426,000 after purchasing an additional 262 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Advanced Drainage Systems in the first quarter worth $346,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Price Performance

WMS stock opened at $130.97 on Wednesday. Advanced Drainage Systems, Inc. has a 52 week low of $112.11 and a 52 week high of $184.27. The company has a quick ratio of 1.90, a current ratio of 2.89 and a debt-to-equity ratio of 1.04. The company has a fifty day simple moving average of $150.84 and a two-hundred day simple moving average of $159.35. The firm has a market capitalization of $10.15 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.15 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.23). Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The business had revenue of $782.60 million for the quarter, compared to the consensus estimate of $819.41 million. During the same quarter last year, the business earned $1.71 EPS. Advanced Drainage Systems’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts anticipate that Advanced Drainage Systems, Inc. will post 6.95 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.16 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.64 annualized dividend and a yield of 0.49%. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 10.19%.

Analyst Ratings Changes

A number of analysts have recently issued reports on WMS shares. Loop Capital reduced their price objective on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday. Oppenheimer reduced their price objective on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a research note on Monday. Robert W. Baird reduced their price objective on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday. KeyCorp reduced their price objective on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Barclays dropped their target price on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a research report on Monday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus target price of $178.57.

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.