Principal Financial Group Inc. Grows Position in Advanced Drainage Systems, Inc. (WMS)

Principal Financial Group Inc. increased its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 54.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,912 shares of the construction company’s stock after buying an additional 16,458 shares during the quarter. Principal Financial Group Inc. owned about 0.08% of Advanced Drainage Systems worth $943,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WMS. GCA Investment Management LLC purchased a new position in shares of Advanced Drainage Systems during the second quarter worth about $16,841,000. JPMorgan Chase & Co. grew its holdings in shares of Advanced Drainage Systems by 44.3% during the first quarter. JPMorgan Chase & Co. now owns 1,258,633 shares of the construction company’s stock worth $27,564,000 after buying an additional 386,541 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Advanced Drainage Systems by 10.2% during the first quarter. Vanguard Group Inc. now owns 2,951,301 shares of the construction company’s stock worth $64,632,000 after buying an additional 273,698 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Advanced Drainage Systems by 1,283.1% during the first quarter. Parametric Portfolio Associates LLC now owns 292,475 shares of the construction company’s stock worth $6,405,000 after buying an additional 271,329 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of Advanced Drainage Systems during the first quarter worth about $4,801,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

WMS has been the topic of a number of research reports. Robert W. Baird reissued a “buy” rating and set a $25.00 price target on shares of Advanced Drainage Systems in a report on Wednesday, October 4th. Zacks Investment Research raised Advanced Drainage Systems from a “sell” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Thursday, July 13th. Boenning Scattergood reissued a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, August 3rd. BidaskClub raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, ValuEngine lowered Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $24.00.

In other news, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was purchased at an average price of $20.32 per share, for a total transaction of $70,028,673.76. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Robert M. Klein sold 20,000 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $20.77, for a total transaction of $415,400.00. Following the completion of the transaction, the executive vice president now owns 340,205 shares of the company’s stock, valued at approximately $7,066,057.85. The disclosure for this sale can be found here. 21.43% of the stock is owned by corporate insiders.

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Advanced Drainage Systems, Inc. (NYSE:WMS) opened at 20.00 on Wednesday. The company’s 50 day moving average price is $20.09 and its 200-day moving average price is $20.80. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 40.57 and a beta of 0.94. Advanced Drainage Systems, Inc. has a 12-month low of $18.40 and a 12-month high of $26.30.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.06). The business had revenue of $358.36 million for the quarter, compared to analyst estimates of $372.63 million. Advanced Drainage Systems had a return on equity of 62.10% and a net margin of 2.50%. Advanced Drainage Systems’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. On average, analysts forecast that Advanced Drainage Systems, Inc. will post $1.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.28 annualized dividend and a yield of 1.40%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 60.87%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.

Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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