<SEC-DOCUMENT>0001174947-24-000853.txt : 20240724
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<ACCEPTANCE-DATETIME>20240618161216
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001174947-24-000853
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20240618

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STURM RUGER & CO INC
		CENTRAL INDEX KEY:			0000095029
		STANDARD INDUSTRIAL CLASSIFICATION:	ORDNANCE & ACCESSORIES, (NO VEHICLES/GUIDED MISSILES) [3480]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				060633559
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1 LACEY PLACE
		CITY:			SOUTHPORT
		STATE:			CT
		ZIP:			06490
		BUSINESS PHONE:		2032597843

	MAIL ADDRESS:	
		STREET 2:		1 LACEY PLACE
		CITY:			SOUTHPORT
		STATE:			CT
		ZIP:			06490
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="image_001.jpg" ALT="Ruger-logo_final_lg.jpg" STYLE="height: 96px; width: 89px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="image_002.jpg" ALT="Corp_Fifer_Ltrhd_2012.jpg" STYLE="height: 76px; width: 624px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">June 18, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Dale Welcome</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Division of Corporate Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Office of Manufacturing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Washington, D.C. 20549-4631</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD STYLE="text-align: justify"><B>Sturm, Ruger &amp; Company, Inc.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 119.45pt 0 1in; text-align: justify"><B>Form 10-K for Fiscal Year Ended
December 31, 2023 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 119.5pt 0 1in; text-align: justify"><B>Filed February 21, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"><B>File No. 001-10435</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dear Mr. Welcome:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In response to your letter of June 10, 2024, we have
reviewed certain of our disclosures. The comments included in your letter and our responses follow:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.2in 0 0; text-align: justify"><U>Form 10-K for Fiscal Year Ended December
31, 2023</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.1in 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 12.95pt 0 0; text-align: justify"><U>Management's Discussion and Analysis
of Financial Condition and Results of Operations</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 12.95pt 0 0; text-align: justify"><U>Results of Operations &ndash; 2023</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 12.95pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Net Sales, Cost of Products Sold, and Gross Profit,
page 25</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Comment 1</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">You disclose here, and in your Form 10-Q for the fiscal
quarter ended March 30, 2024, that you have experienced inflationary cost increases in materials, commodities, services, wages, energy,
fuel, and transportation, which have contributed to reductions in your gross profit between periods. Please revise your MD&amp;A in future
annual and quarterly filings to quantify the impact of the inflationary pressures you experience and the resulting impact to your cost
of products sold and gross profit. In addition, expand your disclosures in future filings to identify actions planned or taken, if any,
to mitigate inflationary pressures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify"><U>Response</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify">In future annual and quarterly filings we will endeavor
to quantify the impact of the inflationary pressures on our profitability (to the extent quantifiable and reasonably estimable) in our
MD&amp;A, where applicable, and expand our disclosures to identify any actions planned or taken to mitigate these pressures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify"><U>Non-GAAP Financial Measure, page 28</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify"><U>Comment 2:</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We note that you present EBITDA margin,
but do not present the most directly comparable GAAP measure, net income margin, with equal or greater prominence. In future filings,
for each non-GAAP financial measure you present, please also present the most directly comparable GAAP measure with equal or greater prominence
in accordance with Item 10(e)(1)(i)(A) of Regulation S-K. This comment also applies to your Form 10-Q for the quarterly period ended March
30, 2024, as well as to Exhibit 99.1 of your Form 8-K filed on May 7, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1.45pt 0pt 0; text-align: justify"><U>Response</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1.45pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">In future filings we will endeavor to fully comply
with Item 10(e)(1)(i)(A) of Regulation S-K by presenting the most directly comparable GAAP measure with equal or greater prominence than
each non-GAAP measure. Specifically, the Company will present net income margin with equal or greater prominence to EBITDA margin in
our reconciliation from net income to EBITDA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify"><U>Schedule II - Valuation and Qualifying Accounts,
page 88</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify"><U>Comment 3</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify">Please remove the information relating to
the Excess and obsolete inventory reserve from this schedule in future filings. Note that amounts recorded in separate accounts to recognize
obsolete and slow-moving inventory are not considered reserves for the purpose of this schedule because those amounts in substance represent
normal adjustments / impairment of inventory rather than true &quot;reserves&rdquo;. Refer to Rule 12-09 of Regulation S-X, SAB Topic
5.BB and ASC 330-10-35-14.</P>

<P STYLE="font: 10pt/102% Times New Roman, Times, Serif; margin: 12.05pt 0pt 0; text-align: justify"><U>Response</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0pt; text-align: justify">In future filings we will remove the information relating
to the excess and obsolete inventory reserve from Schedule II &ndash; Valuation and Qualifying Accounts in accordance with Rule 12-09
of Regulation S-X, SAB Topic 5.BB and ASC 330-10-35-14.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">*********************</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company acknowledges that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Company is responsible for the adequacy and accuracy of the disclosure in their filings;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Staff comments or changes to disclosure in response to staff comments do not foreclose the Commission
from taking any action with respect to the filing; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Company may not assert staff comments as a defense in any proceeding initiated by the Commission or
any person under the federal securities laws of the United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If you require any additional information or further
clarification, please call me at (203) 259-7843.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>/S/ Thomas A. Dineen </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Thomas A. Dineen</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Senior Vice President, Treasurer and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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<DOCUMENT>
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<SEQUENCE>3
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
