Every January at the annual Shooting, Hunting and Outdoor Trade (SHOT) Show in Las Vegas, one of the main topics of discussions centers around the health of the firearms industry. Gun sales are up. Gun sales are down. Company X is struggling. Company Y has changed its entire management team. Company Z is being bought.

Through it all, O.F Mossberg & Sons, Inc., seems to carry on without major corporate drama. The company, entering its 101st year of existence in 2020, continues...