Principal Financial Group Inc. Lowers Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Principal Financial Group Inc. decreased its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 27.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 163,879 shares of the construction company's stock after selling 63,211 shares during the period. Principal Financial Group Inc. owned about 0.21% of Advanced Drainage Systems worth $25,755,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. CANADA LIFE ASSURANCE Co increased its stake in shares of Advanced Drainage Systems by 24.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,780 shares of the construction company's stock valued at $11,006,000 after purchasing an additional 12,655 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of Advanced Drainage Systems during the 1st quarter worth approximately $525,000. Price T Rowe Associates Inc. MD raised its stake in shares of Advanced Drainage Systems by 16.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company's stock worth $24,059,000 after buying an additional 19,626 shares during the period. Vanguard Group Inc. lifted its position in shares of Advanced Drainage Systems by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company's stock valued at $1,251,353,000 after buying an additional 395,099 shares in the last quarter. Finally, Castleark Management LLC acquired a new stake in Advanced Drainage Systems in the 1st quarter valued at $580,000. Institutional investors and hedge funds own 89.83% of the company's stock.

Advanced Drainage Systems Trading Up 1.4 %

NYSE WMS traded up $1.78 on Wednesday, reaching $132.75. 519,041 shares of the company were exchanged, compared to its average volume of 500,335. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97. The business's fifty day moving average price is $150.84 and its 200 day moving average price is $159.35. The stock has a market capitalization of $10.29 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53. Advanced Drainage Systems, Inc. has a fifty-two week low of $116.98 and a fifty-two week high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.93 by ($0.23). The firm had revenue of $782.60 million during the quarter, compared to analysts' expectations of $819.41 million. Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The company's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.71 EPS. Analysts forecast that Advanced Drainage Systems, Inc. will post 6.5 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems's dividend payout ratio is presently 10.19%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of Advanced Drainage Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 17th. Barclays lowered 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. Robert W. Baird reduced their target price on Advanced Drainage Systems from $174.00 to $161.00 and set an "outperform" rating for the company in a report on Monday. Oppenheimer decreased their target price on Advanced Drainage Systems from $192.00 to $184.00 and set an "outperform" rating on the stock in a research report on Monday. Finally, Loop Capital dropped their price target on Advanced Drainage Systems from $180.00 to $170.00 and set a "buy" rating for the company in a research report on Monday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.