Parvin Asset Management LLC Makes New $1.37 Million Investment in Sturm, Ruger & Company, Inc. $RGR

Parvin Asset Management LLC purchased a new stake in Sturm, Ruger & Company, Inc. (NYSE:RGR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,150 shares of the company’s stock, valued at approximately $1,368,000. Sturm, Ruger & Company, Inc. accounts for about 1.1% of Parvin Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding.

Several other institutional investors have also recently made changes to their positions in RGR. BlackRock Inc. purchased a new stake in shares of Sturm, Ruger & Company, Inc. in the second quarter worth $49,541,000. JRM Investment Counsel LLC bought a new position in Sturm, Ruger & Company, Inc. in the 1st quarter worth about $15,916,000. Millennium Management LLC bought a new position in Sturm, Ruger & Company, Inc. in the 4th quarter worth about $9,486,000. Jane Street Group LLC bought a new stake in shares of Sturm, Ruger & Company, Inc. during the 4th quarter valued at about $8,011,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Sturm, Ruger & Company, Inc. during the second quarter worth about $4,773,000. Institutional investors own 64.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Sturm, Ruger & Company, Inc. from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of Sturm, Ruger & Company, Inc. from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Zacks Research downgraded Sturm, Ruger & Company, Inc. from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $46.00 price target on shares of Sturm, Ruger & Company, Inc. in a research note on Thursday, May 7th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.00.

Sturm, Ruger & Company, Inc. Trading Down 0.3%

RGR opened at $38.29 on Thursday. The company has a market cap of $611.87 million, a P/E ratio of 51.05 and a beta of 0.19. The business’s 50-day moving average price is $38.30 and its 200-day moving average price is $39.14. Sturm, Ruger & Company, Inc. has a 12 month low of $28.33 and a 12 month high of $48.21.

Sturm, Ruger & Company, Inc. (NYSE:RGR) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.52 earnings per share (EPS) 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 analyst estimates of $128.54 million. Sturm, Ruger & Company, Inc. had a return on equity of 6.58% and a net margin of 2.11%.Sturm, Ruger & Company, Inc.’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. Equities research analysts forecast that Sturm, Ruger & Company, Inc. will post 1.49 earnings per share for the current fiscal year.

Sturm, Ruger & Company, Inc. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Sturm, Ruger & Company, Inc.’s previous quarterly dividend of $0.11. This represents a $0.84 annualized dividend and a dividend yield of 2.2%. Sturm, Ruger & Company, Inc.’s payout ratio is presently 112.00%.

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.