|Bid||41.47 x 1400|
|Ask||41.52 x 1000|
|Day's Range||41.44 - 42.14|
|52 Week Range||41.11 - 70.00|
|Beta (3Y Monthly)||0.71|
|PE Ratio (TTM)||18.12|
|Earnings Date||Oct 29, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||0.56 (1.23%)|
|1y Target Est||67.00|
Democratic candidate for President, Marianne Williamson, speaks with Yahoo Finance's Adam Shapiro at LaGuardia Airport.
Two Vanguard ETFs that aim to invest using environmental, social and governance (ESG) criteria are getting rid of 29 stocks, including gun maker (RGR) fast food purveyor (YUM) private prison operator Geo Group, and media company News Corp. Vanguard told shareholders the companies were included incorrectly in an ESG index designed by FTSE Russell.
We all make mistakes, even investment fund giants, as Vanguard has admitted it placed gun stocks in a gun-free index. Oops Daisy As reported by Bloomberg, Vanguard bought stock in gun manufacturer Sturm Ruger & Co and mistakenly placed it in their ESG index for more than a month, which typically does not include stocks from companies that sell guns or ammunition. Index Exposure Vanguard developed the Vanguard US ESG Stock ETF to help facilitate investing in companies that meet the criteria for ESG investing, which is a way for investors to buy shares in companies or funds that meet certain ethical benchmarks. Their fund is tied to the FTSE Russell’s US All Cap Choice index, which, in theory, does not include gun manufacturers or non-renewable energy companies. The Russell index was rebalanced in June, and accidently included 11 stocks that don’t qualify as ESG. In addition to 219 shares of Sturm Ruger worth about $9,000, the index also included shares in non-ESG companies such as private prison operator Geo Group Inc. and defense contractor Halliburton Co. Vanguard spokesman Freddy Martino apologized to shareholders for the error. Passive Aggressive Index funds, more or less created by Vanguard founder Jack Bogle, are so popular that they may one day control the stock market. ESG index funds will likely continue to explode in popularity as well, as Wall Street scrambles to appease millennial investors. But, as Vanguard’s mishap shows, passive investing continues to have holes when it comes to meeting the complexities of ESG that might take a human being at the wheel to maneuver. More good news for money managers. -Michael Tedder Photo: Joshua Roberts / RUETERS
(Bloomberg) -- Vanguard Group Inc.’s biggest sustainable exchange-traded fund bought shares of gun maker Sturm Ruger & Co. Inc. and held them for more than a month, mimicking an error in the benchmark it tracks.Vanguard US ESG Stock ETF says it tracks an index that doesn’t include weapons manufacturers, along with other companies that socially responsible investors prefer to avoid. Though the Sturm Ruger buy was temporary and small -- 219 shares worth about $9,000 -- it raises questions about the rapid growth of socially responsible investing in general and index strategies in particular.In September, Vanguard launched its ESGV fund, pegged to FTSE Russell’s US All Cap Choice index, which excludes non-renewable energy, weapons manufacturers and so-called vice products. With a cost of just $1.20 per $1,000 invested, the fund quickly attracted about $560 million, making it the 8th-largest ESG-focused ETF.In June, when FTSE Russell rebalanced the index, it erroneously included 11 stocks in the benchmark, including Sturm Ruger, Vanguard said. FTSE Russell said the stocks were “inadvertently included” and clients were told as soon as it fixed the mistake.“Though the exposure to these holdings was very modest, we regret that the error occurred and apologize to shareholders,” Vanguard spokesman Freddy Martino said in a statement to Bloomberg. Vanguard’s fund sold the shares Aug. 5, and Vanguard is considering adding its own additional controls to prevent future errors.In a letter the firm sent to investors on Monday, Vanguard also disclosed that it had bought shares of private prison operator Geo Group Inc. and defense contractor Halliburton Co. for the U.S. ESG fund, and erroneously included 20 additional stocks in its ESG International Stock ETF.“Vanguard’s objective in managing index funds is to track the index provided by our index partners; FTSE is instituting additional controls in their process,” Vanguard spokeswoman Dana Grosser said in an emailed statement. “Vanguard continuously works to understand index provider policies, procedures and controls; this is part of our evaluation process when partnering with an index provider and part of our ongoing diligence of our index-provider partners.”Fund analysts say index providers make mistakes like this on occasion, but ESG investors are particularly sensitive to what their funds do and don’t hold. Ben Johnson, head of passive strategy research for fund-tracker Morningstar Inc., said he’d never seen an indexer veer so far from its mandate. “It is very much material, diametrically opposed to the objective of the index and the desires of investors in the fund,” he said.Index funds typically have some leeway to diverge from their underlying benchmarks, wiggle room a manager might use to address tactical issues like liquidity or availability. Investors, though, typically use passive funds in order to keep human discretion to a minimum.People interested in socially responsible portfolios, may need to be a little more hands-on, said Shaheen Contractor, an analyst at Bloomberg Intelligence who first discovered the gun stocks in the Vanguard fund. “There is need to look under the hood for all ESG funds.”(Updates with additional holdings in sixth paragraph.)To contact the reporters on this story: Emily Chasan in New York at email@example.com;Annie Massa in New York at firstname.lastname@example.org;Rachel Evans in New York at email@example.comTo contact the editor responsible for this story: Janet Paskin at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
In the wake of two mass shootings last weekend, 2020 presidential candidate Marianne Williamson is calling to renew a ban on assault weapons.
The killings that claimed 31 lives last weekend in El Paso, Texas and Dayton, Ohio, just 12 hours apart brought renewed debate about the nation’s firearm laws and gunmakers. Since 1982, there have been at least 114 mass shootings* in the US, spanning 34 states, according to Mother Jones database. “Gun stocks can trade higher following mass shootings as investors bet on gun buyers speeding up their purchases before potential regulatory changes occur that could threaten their ability to purchase guns,” said Jon Hale, Global Head of Sustainability Research at Morningstar.
Readers hoping to buy Sturm, Ruger & Company, Inc. (NYSE:RGR) for its dividend will need to make their move shortly...
Despite little evidence, the GOP blamed video games for encouraging violence after mass shootings in Dayton, Ohio and El Paso, Texas.
Shares of shooting sports companies surged Monday, bucking the sharp selloff in the broader stock market, after President Trump tweeted about pushing for stronger background checks for gun buyers in the wake of the tragic events over the weekend.
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
29 Murdered Over the Weekend in Two Shooting Attacks It was a terrible weekend in the United States as two separate shooting attacks occurred less than 24 hours apart. The first occurred in a Walmart (NYSE:WMT) in El Paso, Texas, where a 21-year-old shooter murdered 20 people. He has been apprehended by police. He had […]The post Market Morning: Weekend Massacres, Iran Strikes Again, US Blames China, Gold & Bitcoin Pop appeared first on Market Exclusive.
Sturm, Ruger & Co. Inc. shares fell 8.4% in the extended session Wednesday after the company reported declining year-over-year sales for the second quarter. The gun maker reported second-quarter net income of $6.2 million, or 35 cents a share, compared with $15.2 million, or 86 cents a share, in the year-ago period. Revenue fell to $96.3 million from $128.4 million in the year-ago period. According to FactSet, no analysts cover the company. Sturm Ruger stock has gained 6% this year, with the S&P 500 index rising 20.2%.
Sturm, Ruger & Company, Inc. announced today that for the second quarter of 2019 the Company reported net sales of $96.3 million and diluted earnings of 35¢ per share, compared with net sales of $128.4 million and diluted earnings of 86¢ per share in the second quarter of 2018.
Sturm, Ruger & Company, Inc. (RGR) will file its Quarterly Report on Form 10-Q on July 31, 2019, after the close of the stock market. On Thursday, August 1, 2019, Sturm, Ruger will host a webcast at 9:00 a.m. ET to discuss the second quarter operating results. The Form 10-Q will be available on the SEC website at SEC.gov and the Ruger website at Ruger.com/corporate as soon as practicable after the filing.
Sturm, Ruger & Company, Inc. (RGR) will announce its financial results for the second quarter and file its Quarterly Report on Form 10-Q on Wednesday, July 31, 2019, after the close of the stock market. On Thursday, August 1, 2019, Sturm, Ruger will host a webcast at 9:00 a.m. ET to discuss the second quarter operating results. Sturm, Ruger & Co., Inc. is one of the nation's leading manufacturers of rugged, reliable firearms for the commercial sporting market.
Could Sturm, Ruger & Company, Inc. (NYSE:RGR) be an attractive dividend share to own for the long haul? Investors are...
With the first-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the first quarter. One of these stocks was Sturm, Ruger & Company, Inc. (NYSE:RGR). Is Sturm, Ruger & […]
All director nominees at gunmaker Sturm Ruger & Co received a majority of support from investors, including three criticized by a top proxy adviser, a securities filing showed on Monday. Institutional Shareholder Services had recommended investors withhold support from three of nine director nominees at the company's annual meeting held May 8, including then-chair Michael Jacobi. ISS cited the company's "limited response" to a shareholder resolution last year calling for a safety report and its unusual policy of not engaging with investors.