Sturm, Ruger & Company, Inc. Announces the Repurchase of 243,423 Shares of Its Common Stock in the Third Quarter of 2017
October 03 2017 - 5:05PM
Business Wire
Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that
during the third quarter of 2017 the Company repurchased a total of
243,423 shares of its common stock in open market transactions at
an aggregate cost of $11.3 million. The average price per share
repurchased was $46.33. These repurchases, which accounted for 1.4%
of the outstanding shares of the Company’s common stock as of July
1, 2017, were funded with cash on hand.
At the end of the third quarter, $88.7 million remained
authorized and available for share repurchases and 17.4 million
shares of common stock remained outstanding.
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 firearms.
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.
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Sturm, Ruger & Company, Inc.One Lacey PlaceSouthport, CT
06890www.ruger.com203-259-7843
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