JPMorgan Chase & Co. Sells 13,611 Shares of Sturm, Ruger & Company, Inc. $RGR

JPMorgan Chase & Co. cut its stake in Sturm, Ruger & Company, Inc. (NYSE:RGR) by 16.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,625 shares of the company’s stock after selling 13,611 shares during the period. JPMorgan Chase & Co. owned about 0.44% of Sturm, Ruger & Company, Inc. worth $3,027,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RGR. CIBC Bancorp USA Inc. purchased a new stake in Sturm, Ruger & Company, Inc. in the 3rd quarter valued at about $1,307,000. Advisory Services Network LLC purchased a new position in shares of Sturm, Ruger & Company, Inc. during the third quarter worth approximately $146,000. Parvin Asset Management LLC increased its position in shares of Sturm, Ruger & Company, Inc. by 37.6% during the third quarter. Parvin Asset Management LLC now owns 21,040 shares of the company’s stock worth $915,000 after acquiring an additional 5,750 shares during the period. Verition Fund Management LLC bought a new stake in shares of Sturm, Ruger & Company, Inc. during the third quarter valued at approximately $692,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Sturm, Ruger & Company, Inc. during the third quarter valued at approximately $265,000. Hedge funds and other institutional investors own 64.00% of the company’s stock.

Sturm, Ruger & Company, Inc. Stock Up 0.4%

Shares of RGR stock opened at $41.17 on Friday. The firm has a market cap of $656.25 million, a price-to-earnings ratio of -147.04 and a beta of 0.15. Sturm, Ruger & Company, Inc. has a 52-week low of $28.33 and a 52-week high of $48.21. The company’s 50 day moving average is $38.55 and its 200 day moving average is $37.74.

Sturm, Ruger & Company, Inc. (NYSE:RGR) last posted its earnings results on Monday, March 2nd. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The company had revenue of $151.06 million for the quarter, compared to analysts’ expectations of $139.24 million. Sturm, Ruger & Company, Inc. had a positive return on equity of 6.93% and a negative net margin of 0.80%.The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. Analysts anticipate that Sturm, Ruger & Company, Inc. will post 2.31 EPS for the current fiscal year.

Sturm, Ruger & Company, Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued a $0.08 dividend. This is a boost from Sturm, Ruger & Company, Inc.’s previous quarterly dividend of $0.04. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, March 16th. Sturm, Ruger & Company, Inc.’s dividend payout ratio is presently -114.29%.

Analyst Ratings Changes

Several research analysts recently issued reports on RGR shares. Zacks Research cut Sturm, Ruger & Company, Inc. from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sturm, Ruger & Company, Inc. in a research report on Friday, March 27th. Finally, Lake Street Capital increased their price target on Sturm, Ruger & Company, Inc. from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $43.00.

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.