BlackRock Inc. Acquires Shares of 1,308,874 Sturm, Ruger & Company, Inc. $RGR

Key Points

• BlackRock acquired 1,308,874 shares of Sturm, Ruger & Company during the second quarter, worth approximately $49.5 million and representing an 8.19% stake. Institutional investors collectively own 64% of the company.
• Sturm, Ruger reported quarterly EPS of $0.52, beating estimates of $0.42, while revenue rose 19.3% year over year to $158.1 million.
• The company increased its quarterly dividend from $0.11 to $0.21 per share, equating to an annualized dividend of $0.84 and a 2.2% yield; analysts’ consensus rating remains “Hold” with a $46 price target.

BlackRock Inc. bought a new stake in shares of Sturm, Ruger & Company, Inc. (NYSE:RGR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,308,874 shares of the company's stock, valued at approximately $49,541,000. BlackRock Inc. owned 8.19% of Sturm, Ruger & Company, Inc. as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RGR. The Manufacturers Life Insurance Company grew its position in Sturm, Ruger & Company, Inc. by 5.2% in the second quarter. The Manufacturers Life Insurance Company now owns 6,002 shares of the company's stock worth $215,000 after acquiring an additional 299 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Sturm, Ruger & Company, Inc. by 4.2% during the 1st 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 in the last quarter. Nebula Research & Development LLC lifted its stake in shares of Sturm, Ruger & Company, Inc. by 2.6% in the 2nd quarter. Nebula Research & Development LLC now owns 15,405 shares of the company's stock valued at $553,000 after purchasing an additional 391 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Sturm, Ruger & Company, Inc. by 4.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,625 shares of the company's stock worth $347,000 after purchasing an additional 432 shares in the last quarter. Finally, Brevan Howard Capital Management LP boosted its holdings in Sturm, Ruger & Company, Inc. by 8.4% in the second quarter. Brevan Howard Capital Management LP now owns 8,028 shares of the company's stock worth $288,000 after purchasing an additional 620 shares in the last quarter. 64.00% of the stock is currently owned by hedge funds and other institutional investors.

Sturm, Ruger & Company, Inc. Stock Up 1.9%

Shares of RGR opened at $37.97 on Tuesday. Sturm, Ruger & Company, Inc. has a 12-month low of $28.33 and a 12-month high of $48.21. The firm has a market capitalization of $606.76 million, a price-to-earnings ratio of 50.63 and a beta of 0.19. The stock's 50-day moving average price is $38.14 and its 200 day moving average price is $39.13.

Sturm, Ruger & Company, Inc. (NYSE:RGR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. The firm had revenue of $158.06 million during 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% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. Equities research analysts expect that Sturm, Ruger & Company, Inc. will post 1.49 EPS for the current year.

Sturm, Ruger & Company, Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from Sturm, Ruger & Company, Inc.'s previous quarterly dividend of $0.11. Sturm, Ruger & Company, Inc.'s payout ratio is currently 112.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Weiss Ratings upgraded Sturm, Ruger & Company, Inc. from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, August 3rd. Wall Street Zen raised shares of Sturm, Ruger & Company, Inc. from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Lake Street Capital reiterated a "buy" rating and issued a $46.00 target price on shares of Sturm, Ruger & Company, Inc. in a research note on Thursday, May 7th. Finally, Zacks Research lowered shares of Sturm, Ruger & Company, Inc. from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to 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. Profile

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.

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