Principal Financial Group Inc. Has $25.76 Million Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Principal Financial Group Inc. reduced its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 27.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 163,879 shares of the construction company’s stock after selling 63,211 shares during the quarter. Principal Financial Group Inc. owned 0.21% of Advanced Drainage Systems worth $25,755,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WMS. CIBC Asset Management Inc raised its position in Advanced Drainage Systems by 3.6% during the third quarter. CIBC Asset Management Inc now owns 2,271 shares of the construction company’s stock valued at $357,000 after buying an additional 79 shares during the period. CWM LLC grew its stake in Advanced Drainage Systems by 18.1% during the 3rd quarter. CWM LLC now owns 555 shares of the construction company’s stock valued at $87,000 after acquiring an additional 85 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Advanced Drainage Systems by 4.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,411 shares of the construction company’s stock valued at $379,000 after purchasing an additional 111 shares during the period. UMB Bank n.a. lifted its position in shares of Advanced Drainage Systems by 20.5% in the third quarter. UMB Bank n.a. now owns 693 shares of the construction company’s stock worth $109,000 after purchasing an additional 118 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Advanced Drainage Systems by 8.8% during the third quarter. QRG Capital Management Inc. now owns 1,638 shares of the construction company’s stock worth $257,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

Shares of NYSE WMS opened at $116.22 on Wednesday. The business’s 50-day simple moving average is $137.10 and its 200-day simple moving average is $150.51. Advanced Drainage Systems, Inc. has a 52 week low of $113.88 and a 52 week high of $184.27. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 3.19. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 1.22 and a beta of 1.48.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.23). Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The company had revenue of $782.60 million during the quarter, compared to analyst estimates of $819.41 million. During the same quarter in the previous year, the business posted $1.71 EPS. The company’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts expect that Advanced Drainage Systems, Inc. will post 6.12 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Monday, December 2nd. Advanced Drainage Systems’s payout ratio is presently 10.19%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. KeyCorp dropped their price objective on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Barclays cut their price objective on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Robert W. Baird lowered their target price on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Loop Capital cut their price target on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, Stephens reiterated an “equal weight” rating and set a $135.00 price target (down from $170.00) on shares of Advanced Drainage Systems in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems 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.