Principal Financial Group Inc. Acquires 6,098 Shares of Advanced Drainage Systems, Inc. $WMS

Principal Financial Group Inc. boosted its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 4.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,913 shares of the construction company’s stock after purchasing an additional 6,098 shares during the period. Principal Financial Group Inc.’s holdings in Advanced Drainage Systems were worth $21,929,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Advanced Drainage Systems by 352.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after buying an additional 176 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in Advanced Drainage Systems by 78.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after buying an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Advanced Drainage Systems during the 3rd quarter worth about $36,000. Kestra Advisory Services LLC bought a new stake in Advanced Drainage Systems during the 4th quarter worth about $37,000. Finally, Clearstead Advisors LLC increased its position in Advanced Drainage Systems by 150.8% in the 4th quarter. Clearstead Advisors LLC now owns 301 shares of the construction company’s stock valued at $44,000 after acquiring an additional 181 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

Shares of NYSE:WMS opened at $139.03 on Wednesday. The stock has a market capitalization of $10.66 billion, a P/E ratio of 25.56, a P/E/G ratio of 1.54 and a beta of 1.26. Advanced Drainage Systems, Inc. has a 1-year low of $110.85 and a 1-year high of $179.32. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average price of $142.07 and a two-hundred day moving average price of $148.85.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.12. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The company had revenue of $676.76 million for the quarter, compared to analyst estimates of $651.92 million. During the same quarter last year, the firm earned $1.03 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities analysts predict that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.20 dividend. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 14.71%.

Wall Street Analyst Weigh In

WMS has been the subject of a number of research analyst reports. UBS Group dropped their target price on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Barclays increased their price target on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Stephens raised shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $190.00 to $175.00 in a report on Wednesday, May 27th. Jefferies Financial Group initiated coverage on shares of Advanced Drainage Systems in a research report on Thursday, June 11th. They issued a “buy” rating and a $175.00 price objective for the company. Finally, Oppenheimer reduced their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus target price of $187.00.

Advanced Drainage Systems Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.