40,000 copper units of pressure sounds about right for a lever-action. Sounds low for a Ruger #1. After all, the .308, etc., are factory-loaded to 53,000 psi (a different measure than CUP) and I dis-recall the equivalent CUP.
Sounds like the stock was already flawed when you got the gun.
I'll assume you're not "hunching" into the gun when you shoot: In today's world, I wouldn't be a bit surprised if the wrong sights had been installed! (As in too high a front sight.) A solution would be to install a shorter-post front sight...