Principal Financial Group Inc. Sells 63,211 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Principal Financial Group Inc. lessened its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 27.8% during the third quarter, according to the company in its most recent filing with the Securities & 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. owned 0.21% of Advanced Drainage Systems worth $25,755,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. D.B. Root & Company LLC purchased a new stake in shares of Advanced Drainage Systems in the 3rd quarter worth about $539,000. QRG Capital Management Inc. lifted its position in shares of Advanced Drainage Systems by 8.8% in the 3rd 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. Van ECK Associates Corp lifted its position in shares of Advanced Drainage Systems by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 38,151 shares of the construction company’s stock worth $5,695,000 after purchasing an additional 10,902 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Advanced Drainage Systems by 7.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 143,764 shares of the construction company’s stock worth $22,594,000 after purchasing an additional 10,075 shares during the period. Finally, New York State Common Retirement Fund lifted its position in shares of Advanced Drainage Systems by 14.4% in the 3rd quarter. New York State Common Retirement Fund now owns 161,525 shares of the construction company’s stock worth $25,385,000 after purchasing an additional 20,390 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Trading Down 3.6 %

Shares of NYSE WMS opened at $130.97 on Wednesday. The firm’s 50 day moving average price is $150.84 and its 200-day moving average price is $159.35. The company has a market cap of $10.15 billion, a PE ratio of 20.86, a P/E/G ratio of 1.15 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 52-week low of $112.11 and a 52-week high of $184.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results 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). The firm had revenue of $782.60 million during the quarter, compared to the consensus estimate of $819.41 million. Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.71 EPS. On average, equities research analysts expect that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WMS shares. StockNews.com cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays dropped their price objective on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a research note on Monday. Oppenheimer dropped their price objective on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research note on Monday. 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. Finally, Loop Capital dropped their price objective on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.57.

About Advanced Drainage Systems

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.