Vanguard Group Inc. boosted its stake in shares of Rogers Corporation (NYSE:ROG) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,553,763 shares of the electronics maker’s stock after buying an additional 43,385 shares during the period. Vanguard Group Inc. owned approximately 8.61% of Rogers Corporation worth $133,421,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in ROG. SG Americas Securities LLC purchased a new stake in Rogers Corporation during the first quarter valued at approximately $106,000. Ameritas Investment Partners Inc. purchased a new stake in Rogers Corporation during the first quarter valued at approximately $123,000. Envestnet Asset Management Inc. raised its stake in Rogers Corporation by 8.8% in the first quarter. Envestnet Asset Management Inc. now owns 1,954 shares of the electronics maker’s stock valued at $168,000 after buying an additional 158 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Rogers Corporation by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 1,990 shares of the electronics maker’s stock valued at $170,000 after buying an additional 40 shares during the last quarter. Finally, 361 Capital LLC purchased a new stake in Rogers Corporation during the first quarter valued at approximately $206,000. 93.36% of the stock is owned by institutional investors and hedge funds.
Rogers Corporation (NYSE:ROG) traded up 0.21% during trading on Friday, hitting $115.18. 124,453 shares of the stock traded hands. Rogers Corporation has a 12 month low of $51.98 and a 12 month high of $123.38. The company’s 50 day moving average price is $115.07 and its 200 day moving average price is $99.04. The company has a market cap of $2.09 billion, a P/E ratio of 27.77 and a beta of 1.16.
Rogers Corporation (NYSE:ROG) last issued its quarterly earnings data on Monday, July 31st. The electronics maker reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.13. Rogers Corporation had a return on equity of 13.28% and a net margin of 10.21%. The company had revenue of $201.40 million during the quarter, compared to analysts’ expectations of $195.60 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. On average, equities research analysts anticipate that Rogers Corporation will post $5.55 EPS for the current fiscal year.
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Several analysts have commented on ROG shares. B. Riley reissued a “buy” rating and set a $120.00 price target on shares of Rogers Corporation in a research report on Saturday, April 29th. Needham & Company LLC reissued a “buy” rating and set a $115.00 price target (up from $91.00) on shares of Rogers Corporation in a research report on Friday, April 28th. Sidoti reissued a “buy” rating and set a $125.00 price target (up from $120.00) on shares of Rogers Corporation in a research report on Monday, June 19th. BidaskClub lowered shares of Rogers Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. Finally, Zacks Investment Research raised shares of Rogers Corporation from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Friday. Eight analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $134.25.
In other news, SVP Robert C. Daigle sold 4,485 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $121.52, for a total value of $545,017.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Keith Barnes sold 850 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $111.19, for a total value of $94,511.50. Following the completion of the transaction, the director now directly owns 2,850 shares in the company, valued at approximately $316,891.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,335 shares of company stock valued at $854,089. 1.50% of the stock is owned by company insiders.
Rogers Corporation Company 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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