Shares Of Gun Maker Sturm Ruger Up 5% After Company Earnings

Shares of Sturm Ruger & Co. Inc. rose more than 5% late Monday after the gun maker reported first-quarter sales above expectations. The company said it earned a net $22.2 million in the first quarter, or $1.21 a share, compared with $23.3 million, or $1.21 a share, in the first quarter of 2016. Net sales declined to $167.4 million in the quarter, compared with $173.1 million a year ago. Analysts polled by FactSet had expected sales of $162 million. Sturm Ruger also declared a dividend of 48 cents a share for the first quarter, payable May 31 to stockholders of record May 19. The board also expanded the company's share buyback program to $100 million. Shares had ended the regular trading day down 4.4%.