Sturm, Ruger & Company, Inc. Announces the Repurchase of 357,000 Shares of Its Common Stockin the Fourth Quarter of 2008
January 08, 2009
Sturm, Ruger & Company, Inc. (NYSE-RGR) today announced that during the fourth quarter of 2008 the Company repurchased 357,000 shares of its common stock for $2.4 million in the open market, including 309,000 shares repurchased in October 2008 and 48,000 shares repurchased in December 2008. These repurchased shares represent 1.8% of the outstanding shares as of the beginning of the fourth quarter of 2008. The average price per share repurchased was $6.74. These repurchases were funded with cash on hand.
At December 31, 2008, $4.7 million remains authorized and available for share repurchases and 19.1 million shares remain outstanding.
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