Federated Investors Inc. PA reduced its position in Rogers Co. (NYSE:ROG) by 34.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,500 shares of the electronics maker’s stock after selling 16,908 shares during the period. Federated Investors Inc. PA owned approximately 0.18% of Rogers worth $3,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership raised its holdings in Rogers by 0.7% during the second quarter. Artisan Partners Limited Partnership now owns 228,701 shares of the electronics maker’s stock valued at $25,491,000 after acquiring an additional 1,477 shares during the period. Cortina Asset Management LLC increased its holdings in shares of Rogers by 27.6% in the second quarter. Cortina Asset Management LLC now owns 194,412 shares of the electronics maker’s stock worth $21,669,000 after purchasing an additional 42,049 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Rogers by 5.9% in the second quarter. Legal & General Group Plc now owns 39,979 shares of the electronics maker’s stock worth $4,438,000 after purchasing an additional 2,214 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Rogers by 124.3% in the second quarter. Janus Henderson Group PLC now owns 959,893 shares of the electronics maker’s stock worth $106,990,000 after purchasing an additional 531,945 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Rogers by 10.0% in the second quarter. BlackRock Inc. now owns 2,536,309 shares of the electronics maker’s stock worth $282,697,000 after purchasing an additional 230,796 shares during the last quarter. Institutional investors own 93.94% of the company’s stock.
ROG has been the topic of several research reports. Sidoti reaffirmed a “buy” rating and issued a $175.00 target price on shares of Rogers in a report on Thursday, September 6th. ValuEngine raised Rogers from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. B. Riley reduced their target price on Rogers from $155.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, August 1st. Finally, Zacks Investment Research raised Rogers from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $175.25.
In related news, SVP Robert C. Daigle sold 2,346 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $150.00, for a total value of $351,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruce D. Hoechner sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $150.04, for a total transaction of $675,180.00. The disclosure for this sale can be found here. Insiders sold 21,712 shares of company stock valued at $3,176,122 in the last quarter. 0.96% of the stock is owned by company insiders.
NYSE ROG traded down $3.98 during trading hours on Friday, hitting $135.19. 144,470 shares of the company were exchanged, compared to its average volume of 146,749. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.92 and a quick ratio of 3.72. Rogers Co. has a 52 week low of $105.60 and a 52 week high of $184.00. The stock has a market capitalization of $2.71 billion, a P/E ratio of 23.47 and a beta of 1.52.
Rogers (NYSE:ROG) last announced its earnings results on Tuesday, July 31st. The electronics maker reported $1.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.14). Rogers had a net margin of 8.99% and a return on equity of 13.02%. The business had revenue of $214.68 million for the quarter, compared to analysts’ expectations of $214.33 million. During the same quarter last year, the firm earned $1.33 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that Rogers Co. will post 5.47 earnings per share for the current fiscal year.
Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. The company's Advanced Connectivity Solutions segment offers circuit materials and solutions for connectivity applications in wireless communications infrastructure, automotive, connected devices, wired infrastructure, consumer electronics, and aerospace/defense.
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