** Shares of pipe manufacturer Advanced Drainage Systems fall 5% to $151 premarket
** Co reports Q2 net sales of $782.6 million vs analysts' avg est of $822.4 million - LSEG data
** However, WMS posts Q2 adj profit of $1.70 per share, above expectations of $1.47 per share
** WMS sees FY net sales in range of $2.90 bln to $2.97 bln vs expectations of $2.99 bln
** Co approved annual cash dividend of 16 cents/shr to its shareholders, 14% increase over the prior-year dividend amount
** YTD, WMS is up 13.5%
(Reporting by Khusbu Jena in Bengaluru)
((Khusbu.Jena@thomsonreuters.com;))
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