Sturm, Ruger & Company, Inc. (NYSE:RGR) Shares Down 6.7% on Disappointing Earnings

Shares of Sturm, Ruger & Company, Inc. (NYSE:RGR) fell 6.7% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $42.11 and last traded at $43.22. 90,671 shares were traded during trading, a decline of 40% from the average session volume of 150,330 shares. The stock had previously closed at $46.33.

The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.44). The business had revenue of $136.80 million during the quarter, compared to analyst estimates of $153.40 million. Sturm, Ruger & Company, Inc. had a net margin of 8.87% and a return on equity of 14.59%. Sturm, Ruger & Company, Inc.’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 earnings per share.

Sturm, Ruger & Company, Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.23 dividend. This is a boost from Sturm, Ruger & Company, Inc.’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a yield of 2.13%. The ex-dividend date was Thursday, March 14th. Sturm, Ruger & Company, Inc.’s payout ratio is currently 33.82%.

Insiders Place Their Bets

In other news, CEO Christopher John Killoy sold 3,170 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $47.00, for a total transaction of $148,990.00. Following the completion of the transaction, the chief executive officer now directly owns 49,699 shares of the company’s stock, valued at approximately $2,335,853. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 7,388 shares of company stock worth $340,018. Corporate insiders own 2.30% of the company’s stock.

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

A number of large investors have recently modified their holdings of RGR. Exchange Traded Concepts LLC boosted its position in Sturm, Ruger & Company, Inc. by 7.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 19,819 shares of the company’s stock valued at $901,000 after purchasing an additional 1,405 shares during the last quarter. HighTower Advisors LLC increased its holdings in Sturm, Ruger & Company, Inc. by 30.6% during the third quarter. HighTower Advisors LLC now owns 12,285 shares of the company’s stock worth $646,000 after buying an additional 2,879 shares during the last quarter. Graham Capital Management L.P. bought a new stake in Sturm, Ruger & Company, Inc. during the third quarter worth $310,000. Assenagon Asset Management S.A. lifted its stake in Sturm, Ruger & Company, Inc. by 102.6% in the third quarter. Assenagon Asset Management S.A. now owns 97,129 shares of the company’s stock valued at $5,062,000 after acquiring an additional 49,181 shares during the last quarter. Finally, UBS Group AG grew its position in shares of Sturm, Ruger & Company, Inc. by 19.7% in the 3rd quarter. UBS Group AG now owns 147,602 shares of the company’s stock valued at $7,693,000 after acquiring an additional 24,251 shares during the period. 64.00% of the stock is currently owned by institutional investors and hedge funds.

Sturm, Ruger & Company, Inc. Trading Down 6.7 %

The firm’s 50 day moving average price is $45.71 and its two-hundred day moving average price is $45.37. The company has a market capitalization of $763.44 million, a price-to-earnings ratio of 15.87 and a beta of 0.31.

Sturm, Ruger & Company, Inc. Company Profile

Sturm, Ruger & Company, Inc, together with its subsidiaries, designs, manufactures, and sells firearms under the Ruger name and trademark in the United States. The company operates through two segments: Firearms and Castings. It provides single-shot, autoloading, bolt-action, and modern sporting rifles; rimfire and centerfire autoloading pistols; single-action and double-action revolvers; and firearms accessories and replacement parts, as well as manufactures lever-action rifles under the Marlin name and trademark.