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

Principal Financial Group Inc. reduced its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 27.8% in the third quarter, according to its most recent filing with the SEC. 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 approximately 0.21% of Advanced Drainage Systems worth $25,755,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Raymond James & Associates boosted its stake in Advanced Drainage Systems by 5.8% in the second quarter. Raymond James & Associates now owns 47,575 shares of the construction company's stock worth $7,630,000 after buying an additional 2,598 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Advanced Drainage Systems by 211.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 10,159 shares of the construction company's stock worth $1,629,000 after purchasing an additional 6,896 shares during the period. Financial Advocates Investment Management lifted its stake in Advanced Drainage Systems by 22.3% in the second quarter. Financial Advocates Investment Management now owns 2,343 shares of the construction company's stock worth $376,000 after purchasing an additional 428 shares during the last quarter. Peregrine Capital Management LLC lifted its stake in Advanced Drainage Systems by 0.3% in the second quarter. Peregrine Capital Management LLC now owns 80,137 shares of the construction company's stock worth $12,853,000 after purchasing an additional 260 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Advanced Drainage Systems by 933.2% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 25,128 shares of the construction company's stock valued at $4,030,000 after buying an additional 22,696 shares during the period. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Stock Performance

WMS traded up $0.68 during midday trading on Wednesday, hitting $116.22. 197,051 shares of the company traded hands, compared to its average volume of 522,613. The company's 50-day moving average is $136.30 and its 200 day moving average is $150.27. Advanced Drainage Systems, Inc. has a 52 week low of $113.88 and a 52 week high of $184.27. The firm has a market capitalization of $9.01 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.93 by ($0.23). The company had revenue of $782.60 million for the quarter, compared to the consensus estimate of $819.41 million. Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company earned $1.71 EPS. On average, research analysts expect that Advanced Drainage Systems, Inc. will post 6.12 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

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

Analysts Set New Price Targets

WMS has been the topic of several analyst reports. Barclays decreased their price objective on Advanced Drainage Systems from $194.00 to $172.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Robert W. Baird lowered their price objective on Advanced Drainage Systems from $174.00 to $161.00 and set an "outperform" rating for the company in a research report on Monday, November 11th. Stephens restated an "equal weight" rating and issued a $135.00 target price (down previously from $170.00) on shares of Advanced Drainage Systems in a report on Wednesday, November 13th. KeyCorp lowered their price target on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Finally, Loop Capital dropped their price target on Advanced Drainage Systems from $180.00 to $170.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $170.29.

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.