D. E. Shaw & Co. Inc. decreased its holdings in shares of Rogers Co. (NYSE:ROG) by 10.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,082 shares of the electronics maker’s stock after selling 376 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Rogers were worth $305,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of Rogers by 20.4% in the fourth quarter. Bank of America Corp DE now owns 61,583 shares of the electronics maker’s stock valued at $6,100,000 after purchasing an additional 10,420 shares during the period. GCA Investment Management LLC grew its stake in shares of Rogers by 74.7% in the fourth quarter. GCA Investment Management LLC now owns 42,408 shares of the electronics maker’s stock valued at $4,201,000 after acquiring an additional 18,131 shares in the last quarter. Front Street Capital Management Inc. grew its stake in shares of Rogers by 2.2% in the fourth quarter. Front Street Capital Management Inc. now owns 178,113 shares of the electronics maker’s stock valued at $17,644,000 after acquiring an additional 3,837 shares in the last quarter. Neuburgh Advisers LLC grew its stake in shares of Rogers by 18.3% in the fourth quarter. Neuburgh Advisers LLC now owns 1,760 shares of the electronics maker’s stock valued at $174,000 after acquiring an additional 272 shares in the last quarter. Finally, ARS Investment Partners LLC grew its stake in shares of Rogers by 2.6% in the fourth quarter. ARS Investment Partners LLC now owns 11,290 shares of the electronics maker’s stock valued at $1,118,000 after acquiring an additional 290 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.
In other Rogers news, insider Bruce D. Hoechner sold 3,300 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $170.05, for a total transaction of $561,165.00. Following the sale, the insider now directly owns 67,972 shares in the company, valued at $11,558,638.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ganesh Moorthy sold 1,500 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $155.00, for a total transaction of $232,500.00. Following the sale, the director now owns 7,500 shares in the company, valued at $1,162,500. The disclosure for this sale can be found here. Insiders have sold 25,332 shares of company stock worth $3,977,795 over the last quarter. Corporate insiders own 1.09% of the company’s stock.
Rogers (NYSE:ROG) last announced its quarterly earnings data on Wednesday, February 20th. The electronics maker reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.40. The firm had revenue of $222.94 million for the quarter, compared to the consensus estimate of $220.38 million. Rogers had a net margin of 9.97% and a return on equity of 13.15%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 earnings per share. On average, analysts predict that Rogers Co. will post 5.93 EPS for the current fiscal year.
Several research firms recently commented on ROG. ValuEngine upgraded shares of Rogers from a “hold” rating to a “buy” rating in a research note on Wednesday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $155.00 price target on shares of Rogers in a research note on Thursday, February 21st. Finally, B. Riley upped their price target on shares of Rogers from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 21st. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Rogers presently has a consensus rating of “Buy” and a consensus target price of $163.33.
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Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. It operates in Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES), and Other segments. The ACS segment offers circuit materials and solutions for connectivity applications in wireless infrastructure, automotive, aerospace and defense, connected devices, wired infrastructure, and consumer electronics under the RO3000, RO4000, RT/duroid, TMM, AD Series, and CLTE Series names.
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