Wednesday, February 20, 2019

Gunning It After Parkland: Faith-Based Investor Success With Gun Safety Shareholder Resolutions

From Forbes-

Only seven of the largest gun manufacturers and retailers in the US are publicly traded. Specifically, three of the largest US gun manufacturers are publicly traded. Sturm, Ruger & Co. (NYSE: RGR) manufactured 1.7 million guns in 2015, followed by American Outdoor Brands (NASDAQ: AOBC), which manufactured 1.5 million via its subsidiary Smith & Wesson. The sixth largest US gun manufacturer Savage Arms at 400,000 guns is owned by Vista Outdoor (NYSE:VSTO). Of the largest gun retailers in the US, four are publicly traded: Walmart (WMT); Dick’s Sporting Goods (NYSE: DKS); Sportsman’s Warehouse (NASDAQ: SPWH); and Gander Outdoors—owned by Camping World (NYSE: CWH). Shareholder advocacy efforts have achieved key victories in three of them in the year since the Parkland shooting.


Faith-based investors have led the way in these advocacy efforts. They bolster their moral authority and organizational prowess with significant financial firepower. Interfaith Center on Corporate Responsibility, which pioneered shareholder advocacy for environmental, social, and governance (ESG) issues, represents over $400 billion in assets from 300 institutional investors globally. The Catholic Church and the Mormon Church each separately have over $30 billion in assets. The Church Pension Fund of the Episcopal Church alone has assets in excess of $13 billion, and Trinity Church alone in New York’s financial district alone has a $6 billion investment portfolio. These are in addition to the assets of individual Catholics, Mormons, and Episcopalians.

More here-

https://www.forbes.com/sites/bhaktimirchandani/2019/02/19/gunning-it-after-parkland-faith-based-investor-success-with-gun-safety-shareholder-resolutions/#1f78d9e11ceb

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