Should we have financial concerns about Ruger because of the recalls?

Should we have financial concerns about Ruger because of the recalls?

This is a discussion on Should we have financial concerns about Ruger because of the recalls? within the General Firearm Discussion forums, part of the General Category category; The evidence says no! No debt and cash is the bank. I should be so lucky. http://biz.yahoo.com/ap/081006/sturm_ruger_buyback.html Originally Posted by AP via Yahoo Business Sturm, ...

Thread: Should we have financial concerns about Ruger because of the recalls?

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  1. #1 Should we have financial concerns about Ruger because of the recalls? 
    Super Member HowardCohodas's Avatar
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    The evidence says no! No debt and cash is the bank. I should be so lucky.

    http://biz.yahoo.com/ap/081006/sturm_ruger_buyback.html

    Quote Originally Posted by AP via Yahoo Business
    Sturm, Ruger & Co. buys back 1.1M shares in 3Q
    Monday October 6, 6:14 pm ET
    Firearm manufacturer Sturm, Ruger & Co. spent $7.4 million on buybacks in 3rd quarter

    SOUTHPORT, Conn. (AP) -- Firearm manufacturer Sturm, Ruger & Co. said Monday it spent $7.4 million in the third quarter to buy back 1.1 million shares.

    The amount represents 5.5 percent of shares outstanding in April, when the current $10 million buyback program was authorized.

    Sturm, Ruger said it repurchased the shares for an average price of $6.50 with cash on hand. At the end of the July-September period, the company said 19.5 million shares were outstanding, and that it had about $22 million in cash and no debt on its balance sheet.

    Sturm, Ruger's sank 45 cents, or 6.6 percent, to close at $6.37 amid a massive market sell-off Monday. The Dow Jones industrials closed under 10,000 for the first time in four years.
    Howard
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  2. #2 Re: Should we have financial concerns about Ruger because of the recalls? 
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    They are ok, definitely not a stock I would want to hold but they are sound.
    "JUST SHOOT IT LIKE U STOLE IT"!!
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  3. #3 Re: Should we have financial concerns about Ruger because of the recalls? 
    Super Member HowardCohodas's Avatar
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    Quote Originally Posted by jocko
    They are ok, definitely not a stock I would want to hold but they are sound.
    Hmmm. I was thinking of picking up a 1,000 or so shares. A company generally invests in its own shares because they want to reduce the float to increase the price.
    Howard
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  5. #4 Re: Should we have financial concerns about Ruger because of the recalls? 
    Full Member RedPepper2's Avatar
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    Most 401k investments have fallen from 20 to 50% in value. We all have lost substancial amounts because of the government home loan programs pushing us into a recession. Company values have also suffered and will continue to suffer in the short term. Lets face reality, the people making the laws are in most part failures in the private business sector or they wouldn't be politicians. Our system of politics is becoming frightful.
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  6. #5 Re: Should we have financial concerns about Ruger because of the recalls? 

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    Quote Originally Posted by HowardCohodas
    The evidence says no! No debt and cash is the bank. I should be so lucky.

    http://biz.yahoo.com/ap/081006/sturm_ruger_buyback.html

    Quote Originally Posted by AP via Yahoo Business
    Sturm, Ruger & Co. buys back 1.1M shares in 3Q
    Monday October 6, 6:14 pm ET
    Firearm manufacturer Sturm, Ruger & Co. spent $7.4 million on buybacks in 3rd quarter

    SOUTHPORT, Conn. (AP) -- Firearm manufacturer Sturm, Ruger & Co. said Monday it spent $7.4 million in the third quarter to buy back 1.1 million shares.

    The amount represents 5.5 percent of shares outstanding in April, when the current $10 million buyback program was authorized.

    Sturm, Ruger said it repurchased the shares for an average price of $6.50 with cash on hand. At the end of the July-September period, the company said 19.5 million shares were outstanding, and that it had about $22 million in cash and no debt on its balance sheet.

    Sturm, Ruger's sank 45 cents, or 6.6 percent, to close at $6.37 amid a massive market sell-off Monday. The Dow Jones industrials closed under 10,000 for the first time in four years.
    People will always buy guns aslong as they make em.
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  7. #6 Re: Should we have financial concerns about Ruger because of the recalls? 
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    Quote Originally Posted by HowardCohodas
    Quote Originally Posted by jocko
    They are ok, definitely not a stock I would want to hold but they are sound.
    Hmmm. I was thinking of picking up a 1,000 or so shares. A company generally invests in its own shares because they want to reduce the float to increase the price.
    IMO Ruger stock ain't going anywhere. Much better places to put your money than into a gun company. my two cents worth..
    "JUST SHOOT IT LIKE U STOLE IT"!!
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  8. #7 Re: Should we have financial concerns about Ruger because of the recalls? 
    Super Member HowardCohodas's Avatar
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    Quote Originally Posted by HowardCohodas
    Quote Originally Posted by jocko
    They are ok, definitely not a stock I would want to hold but they are sound.
    Hmmm. I was thinking of picking up a 1,000 or so shares. A company generally invests in its own shares because they want to reduce the float to increase the price.
    Current price $10.44. Sure wish I had bought the stock. Up 60%.
    Howard
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  9. #8 Re: Should we have financial concerns about Ruger because of the recalls? 
    Sr. Member stevec717's Avatar
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    Howard, hope you bought those 1000 shs at $6 - you just made $6000 - stock traded over $12 this week!
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