Lapides Asset Management LLC lessened its holdings in Rogers Corporation (NYSE:ROG) by 36.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,300 shares of the electronics maker’s stock after selling 13,400 shares during the period. Lapides Asset Management LLC owned 0.13% of Rogers Corporation worth $3,105,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in ROG. UBS Asset Management Americas Inc. lifted its stake in shares of Rogers Corporation by 84.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 6,267 shares of the electronics maker’s stock valued at $538,000 after purchasing an additional 2,867 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Rogers Corporation in the 1st quarter valued at $106,000. Teachers Advisors LLC lifted its stake in shares of Rogers Corporation by 322.9% in the 1st quarter. Teachers Advisors LLC now owns 153,175 shares of the electronics maker’s stock valued at $13,153,000 after purchasing an additional 116,956 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Rogers Corporation by 7.4% in the 1st quarter. California Public Employees Retirement System now owns 33,200 shares of the electronics maker’s stock valued at $2,851,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Rogers Corporation by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 1,553,763 shares of the electronics maker’s stock valued at $133,421,000 after purchasing an additional 43,385 shares during the last quarter. 93.26% of the stock is owned by institutional investors and hedge funds.
In other news, insider Bruce D. Hoechner sold 23,200 shares of Rogers Corporation stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $133.23, for a total transaction of $3,090,936.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jeffrey M. Grudzien sold 3,042 shares of Rogers Corporation stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $114.08, for a total transaction of $347,031.36. Following the sale, the senior vice president now owns 28,022 shares in the company, valued at $3,196,749.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,981 shares of company stock worth $4,644,611. Insiders own 1.50% of the company’s stock.
Shares of Rogers Corporation (ROG) traded down $0.81 on Wednesday, reaching $153.20. 119,900 shares of the company traded hands, compared to its average volume of 126,827. The company has a market cap of $2,809.75, a P/E ratio of 28.73 and a beta of 1.14. Rogers Corporation has a 12-month low of $67.60 and a 12-month high of $155.01. The company has a quick ratio of 2.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.18.
Rogers Corporation (NYSE:ROG) last posted its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.15. Rogers Corporation had a net margin of 10.88% and a return on equity of 14.22%. The company had revenue of $206.80 million for the quarter, compared to the consensus estimate of $198.16 million. During the same quarter in the previous year, the firm posted $0.86 EPS. The business’s revenue was up 25.1% compared to the same quarter last year. equities research analysts forecast that Rogers Corporation will post 5.85 EPS for the current year.
Several equities research analysts recently issued reports on the stock. B. Riley reaffirmed a “buy” rating and issued a $147.00 price objective on shares of Rogers Corporation in a research note on Saturday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price objective (up previously from $115.00) on shares of Rogers Corporation in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Rogers Corporation from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Friday, August 18th. Finally, BidaskClub upgraded shares of Rogers Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $160.25.
Rogers Corporation Profile
Rogers Corporation manufactures and sells engineered materials and components for mission critical applications. The Company’s segments are Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES) and Other. The ACS segment manufactures and sells circuit materials and solutions for applications in wireless communications infrastructure, automotive, connected devices, consumer electronics and aerospace/defense.
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