Sturm, Ruger & Company, Inc. (NYSE:RGR) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Sturm, Ruger & Company, Inc. (NYSE:RGR) from a hold rating to a strong sell rating in a research report released on Thursday morning,Zacks.com reports.

Several other research firms have also recently weighed in on RGR. Lake Street Capital reiterated a “buy” rating and set a $46.00 price objective on shares of Sturm, Ruger & Company, Inc. in a research report on Thursday, May 7th. Weiss Ratings upgraded Sturm, Ruger & Company, Inc. from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday. Finally, Wall Street Zen raised Sturm, Ruger & Company, Inc. from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sturm, Ruger & Company, Inc. has an average rating of “Hold” and an average price target of $46.00.

Sturm, Ruger & Company, Inc. Price Performance

Shares of RGR opened at $37.07 on Thursday. Sturm, Ruger & Company, Inc. has a one year low of $28.33 and a one year high of $48.21. The company has a 50-day moving average of $38.53 and a two-hundred day moving average of $39.10. The stock has a market cap of $592.39 million, a price-to-earnings ratio of 49.43 and a beta of 0.19.

Sturm, Ruger & Company, Inc. (NYSE:RGR) last released its earnings results on Wednesday, July 29th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. The business had revenue of $158.06 million for the quarter, compared to the consensus estimate of $128.54 million. Sturm, Ruger & Company, Inc. had a net margin of 2.11% and a return on equity of 6.58%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. Analysts anticipate that Sturm, Ruger & Company, Inc. will post 1.49 earnings per share for the current year.

Sturm, Ruger & Company, Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.21 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Sturm, Ruger & Company, Inc.’s previous quarterly dividend of $0.11. Sturm, Ruger & Company, Inc.’s dividend payout ratio is currently 58.67%.

Insider Transactions at Sturm, Ruger & Company, Inc.

In related news, Director Bruce T. Pettet acquired 1,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $39.89 per share, with a total value of $39,890.00. Following the completion of the transaction, the director owned 7,606 shares of the company’s stock, valued at approximately $303,403.34. This trade represents a 15.14% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Phillip Widman acquired 5,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $38.00 per share, for a total transaction of $190,000.00. Following the purchase, the director owned 45,208 shares in the company, valued at approximately $1,717,904. This trade represents a 12.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 7,500 shares of company stock valued at $288,615 over the last three months. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sturm, Ruger & Company, Inc.

Several institutional investors and hedge funds have recently modified their holdings of RGR. AQR Capital Management LLC raised its holdings in shares of Sturm, Ruger & Company, Inc. by 239.4% during the first quarter. AQR Capital Management LLC now owns 100,834 shares of the company’s stock worth $3,962,000 after acquiring an additional 71,128 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Sturm, Ruger & Company, Inc. by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,777 shares of the company’s stock valued at $384,000 after purchasing an additional 390 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Sturm, Ruger & Company, Inc. by 21.4% in the second quarter. JPMorgan Chase & Co. now owns 83,236 shares of the company’s stock valued at $2,988,000 after purchasing an additional 14,687 shares in the last quarter. Invesco Ltd. grew its stake in Sturm, Ruger & Company, Inc. by 3.7% in the second quarter. Invesco Ltd. now owns 160,619 shares of the company’s stock valued at $5,766,000 after purchasing an additional 5,747 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Sturm, Ruger & Company, Inc. by 259.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,568 shares of the company’s stock worth $56,000 after purchasing an additional 1,132 shares during the last quarter. 64.00% of the stock is currently owned by hedge funds and other institutional investors.

About Sturm, Ruger & Company, Inc.

Sturm, Ruger & Company, Inc, founded in 1949 by William B. Ruger and Alexander McCormick Sturm, is a leading American designer and manufacturer of firearms. Headquartered in Newport, New Hampshire, the company has established a reputation for precision engineering and durable products. Its manufacturing footprint includes facilities in Newport and Mayodan, North Carolina, where it maintains a vertically integrated production model spanning metallurgy, machining, and assembly.

The company’s product portfolio encompasses a broad range of small arms, including centerfire and rimfire rifles, shotguns, semi-automatic pistols, revolvers, and accessories.