Latest news with #AndersonManufacturing
Yahoo
21-07-2025
- Business
- Yahoo
Sturm, Ruger & Company, Inc. (RGR) Announces Asset Purchase of Anderson Manufacturing
Sturm, Ruger & Company, Inc. (NYSE:RGR) is among the 10 Best Small Cap Defense Stocks to Buy According to Hedge Funds. Earlier this month, the company announced the asset purchase of Anderson Manufacturing, a firearms manufacturer, based in Hebron, Kentucky. A row of raw materials in pristine condition, waiting to be crafted into firearms. The strategic acquisition will include the takeover of Anderson's manufacturing facility and equipment, providing Sturm, Ruger & Company, Inc. (NYSE:RGR) with an opportunity to strengthen its production and expand its product offerings. Todd Seyfert, President and CEO of Sturm, Ruger & Company, Inc. (NYSE:RGR), stated the following on the acquisition: 'This acquisition is an incredible opportunity to advance our long-term strategy and expand Ruger's capacity. We're excited to welcome members from the talented team at Anderson Manufacturing and leverage their knowledge and infrastructure to better serve our customers. This move reinforces Ruger's position as a leader in the industry, and reiterates my focus on continued growth, even as others scale back.' According to the press release dated July 1, Sturm, Ruger & Company, Inc. (NYSE:RGR) will not continue the Anderson brand or its products. Instead, it will integrate the facility into its own wider operations. Sturm, Ruger & Company, Inc. (NYSE:RGR) is an American firearms company with a diverse portfolio of products, mainly serving three product lines – pistols, rifles, and revolvers. While we acknowledge the potential of RGR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-04-2025
- Yahoo
KC man pleads guilty after selling machine gun, ammunition to undercover agent
KANSAS CITY, Mo. — A 24-year-old Kansas City, Missouri man has pleaded guilty in federal court for possessing and transferring three machine gun conversion devices. Demetrius Harris, also known as 'Meech,' pleaded guilty on Tuesday to one count of illegally possessing machine guns, an Anderson Manufacturing AM-15 multi-caliber firearm with an AR-type machine gun conversion device and two AR-type machine gun conversion devices. Kansas City man charged with murdering woman in potential drug deal gone wrong Court documents say on Jan. 24, 2024, Harris sold an AR-style firearm containing an auto sear, two additional auto sears, and ammunition to an undercover agent for $1,060. Last November, Demetrius and his brother Darius R. Harris, also known as 'D' and 'D2,' 22, of Raytown, on Wednesday, Nov. 6, 2024. Those indictments were unsealed and made public following the arrests and initial court appearances of both suspects. Darius Harris was charged with two counts of illegally possessing and transferring a Glock-type machine gun conversion device on two separate occasions, on Oct. 30, 2023, and on Nov. 9, 2023. FOX4 Newsletters: Sign up for daily forecasts and Joe's Weather Blog in your inbox According to the Department of Justice, machine gun conversion devices, also known as 'switches' or 'auto sears,' are used to convert semi-automatic weapons into machine guns that fire multiple shots automatically through a single pull of the trigger, enabling more rapid and often less accurate gunfire. The DOJ said whether or not they are attached to a firearm, these devices constitute machine guns under federal law. It is therefore illegal to possess, sell, or use machine gun conversion devices. A sentencing hearing for Demetrius Harris will be scheduled after the completion of a presentence investigation by the United States Probation Office. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
