Meeder Asset Management Inc. purchased a new stake in shares of Sturm, Ruger & Company, Inc. (NYSE:RGR – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 22,801 shares of the company’s stock, valued at approximately $863,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of RGR. BlackRock Inc. purchased a new position in shares of Sturm, Ruger & Company, Inc. in the second quarter valued at about $49,541,000. Deutsche Bank AG purchased a new position in Sturm, Ruger & Company, Inc. in the 2nd quarter worth approximately $552,000. Bank of New York Mellon Corp bought a new position in Sturm, Ruger & Company, Inc. in the 2nd quarter worth approximately $4,773,000. State of Wyoming purchased a new stake in Sturm, Ruger & Company, Inc. during the 2nd quarter valued at approximately $254,000. Finally, Empowered Funds LLC bought a new stake in shares of Sturm, Ruger & Company, Inc. during the first quarter valued at approximately $218,000. 64.00% of the stock is owned by hedge funds and other institutional investors.
Sturm, Ruger & Company, Inc. Stock Up 0.2%
Shares of NYSE:RGR opened at $37.52 on Wednesday. The firm has a fifty day simple moving average of $38.33 and a two-hundred day simple moving average of $39.10. Sturm, Ruger & Company, Inc. has a 52 week low of $28.33 and a 52 week high of $48.21. The stock has a market capitalization of $599.57 million, a P/E ratio of 50.03 and a beta of 0.19.
Sturm, Ruger & Company, Inc. Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.21 per share. 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 yield of 2.2%. Sturm, Ruger & Company, Inc.’s payout ratio is presently 112.00%.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on RGR shares. 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. Wall Street Zen upgraded Sturm, Ruger & Company, Inc. from a “buy” rating to a “strong-buy” rating in a research 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 report on Thursday, May 7th. Finally, Weiss Ratings raised Sturm, Ruger & Company, Inc. from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.00.
Check Out Our Latest Report on RGR
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.
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