SOUTHPORT, Conn.–(BUSINESS WIRE)–Sturm, Ruger & Company, Inc. (NYSE: RGR) announced today that during the
first quarter of 2017 the Company repurchased a total of 1,074,285
shares of its common stock in open market transactions at an aggregate
cost of $53.4 million. The average price per share repurchased was
$49.73. These repurchases, which accounted for 5.7% of the outstanding
shares of the Company’s common stock as of December 31, 2016, were
funded with cash on hand.
On February 22, 2017, the Company previously announced the repurchase of
633,600 shares of common stock from January 1, 2017 through February 17,
2017. These shares are included in the total repurchases for the first
At the end of the first quarter, $5.5 million remained authorized and
available for share repurchases and 17.7 million shares of common stock
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
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.
Sturm, Ruger & Company, Inc.
One Lacey Place