Kennedy Capital Management Inc. lowered its position in Rogers Corporation (NYSE:ROG) by 2.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 67,465 shares of the electronics maker’s stock after selling 1,838 shares during the period. Kennedy Capital Management Inc. owned 0.37% of Rogers Corporation worth $7,328,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of ROG. BlackRock Inc. lifted its position in shares of Rogers Corporation by 60,174.9% in the 1st quarter. BlackRock Inc. now owns 2,189,786 shares of the electronics maker’s stock worth $188,037,000 after purchasing an additional 2,186,153 shares during the period. ACK Asset Management LLC lifted its position in shares of Rogers Corporation by 57.1% in the 1st quarter. ACK Asset Management LLC now owns 385,000 shares of the electronics maker’s stock worth $28,294,000 after purchasing an additional 140,000 shares during the period. Teachers Advisors LLC lifted its position 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 worth $13,153,000 after purchasing an additional 116,956 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Rogers Corporation by 31.4% in the 1st quarter. Bank of New York Mellon Corp now owns 326,777 shares of the electronics maker’s stock worth $28,060,000 after purchasing an additional 78,105 shares during the period. Finally, ClariVest Asset Management LLC acquired a new position in shares of Rogers Corporation in the 2nd quarter worth approximately $8,050,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.
Rogers Corporation (ROG) opened at 122.23 on Tuesday. The company’s 50 day moving average is $117.21 and its 200-day moving average is $103.06. The firm has a market cap of $2.22 billion, a P/E ratio of 29.47 and a beta of 1.15. Rogers Corporation has a 52-week low of $51.98 and a 52-week high of $123.38.
Rogers Corporation (NYSE:ROG) last announced its quarterly earnings results on Monday, July 31st. The electronics maker reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $195.60 million. During the same quarter last year, the firm posted $0.88 earnings per share. The firm’s revenue was up 27.9% on a year-over-year basis. On average, equities analysts predict that Rogers Corporation will post $5.55 EPS for the current fiscal year.
A number of research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Rogers Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. B. Riley restated a “buy” rating and issued a $147.00 price target on shares of Rogers Corporation in a research report on Sunday, August 20th. Zacks Investment Research upgraded shares of Rogers Corporation from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Friday, August 18th. Sidoti restated a “buy” rating and issued a $125.00 price target (up previously from $120.00) on shares of Rogers Corporation in a research report on Monday, June 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $135.00 price target (up previously from $115.00) on shares of Rogers Corporation in a research report on Wednesday, August 2nd. Eight analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $134.25.
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In related news, SVP Robert C. Daigle sold 4,485 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $121.52, for a total value of $545,017.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carol R. Jensen sold 3,500 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $115.79, for a total value of $405,265.00. Following the completion of the sale, the director now directly owns 10,088 shares of the company’s stock, valued at approximately $1,168,089.52. The disclosure for this sale can be found here. Insiders sold 11,027 shares of company stock valued at $1,297,314 in the last ninety days. 1.50% of the stock is currently owned by insiders.
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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