Sturm, Ruger & Company, Inc. : Announces the Repurchase of 243,423 Shares of Its Common Stock in the Third Quarter of 2017
October 04, 2017 at 02:36 am IST
Share
Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that during the
third quarter of 2017 the Company repurchased a total of 243,423 shares
of its common stock in open market transactions at an aggregate cost of
$11.3 million. The average price per share repurchased was $46.33. These
repurchases, which accounted for 1.4% of the outstanding shares of the
Company’s common stock as of July 1, 2017, were funded with cash on hand.
At the end of the third quarter, $88.7 million remained authorized and
available for share repurchases and 17.4 million shares of common stock
remained outstanding.
About Sturm, Ruger
Sturm, Ruger & Co., Inc. is one of the nation’s leading manufacturers of
rugged, reliable firearms for the commercial sporting market. As a
full-line manufacturer of American-made firearms, Ruger offers consumers
over 400 variations of more than 30 product lines. For more than 60
years, Ruger has been a model of corporate and community responsibility.
Our motto, “Arms Makers for Responsible Citizens,” echoes the importance
of these principles as we work hard to deliver quality and innovative
firearms.
The Company may, from time to time, make forward-looking statements
and projections concerning future expectations. Such statements
are based on current expectations and are subject to certain qualifying
risks and uncertainties, such as market demand, sales levels of
firearms, anticipated castings sales and earnings, the need for external
financing for operations or capital expenditures, the results of pending
litigation against the Company, the impact of future firearms control
and environmental legislation, and accounting estimates, any one or more
of which could cause actual results to differ materially from those
projected. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date made.
The Company undertakes no obligation to publish revised
forward-looking statements to reflect events or circumstances after the
date such forward-looking statements are made or to reflect the
occurrence of subsequent unanticipated events.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171003006128/en/
Sturm, Ruger & Company, Inc. is principally engaged in the design, manufacture, and sale of firearms to domestic customers. The Company operates through two segments: firearms and castings. The firearms segment manufactures and sells rifles, pistols, and revolvers principally to a number of federally-licensed, independent wholesale distributors primarily located in the United States. The castings segment manufactures and sells steel investment castings and metal injection molding parts. The Company primarily manufactures firearm products, under the Ruger name and trademark. It also manufactures and sells accessories and replacement parts for its firearms. In addition, the Company manufactures lever-action rifles under the Marlin name and trademark. Its firearms products are sold through a select number of independent wholesale distributors, principally to the commercial sporting market. Its design and manufacturing operations are located in the United States.