Sturm, Ruger & Company, Inc. announced that during the third quarter of 2010, the company repurchased 412,000 shares of its common stock for $5.7 million in the open market. The average price per share repurchased was $13.83.
These repurchased shares represent 2.1% of the outstanding shares as of the beginning of the third quarter of 2010. These repurchases were funded with cash on hand.
At the end of the third quarter of 2010, $4.3 million remains authorized and available for share repurchases and 18.8 million shares remain outstanding.