Atreides Management LP Invests $31 Million in Rogers Corporation $ROG

Key Points

• Atreides Management initiated a $31.0 million position in Rogers Corporation, purchasing 189,311 shares and owning roughly 1.06% of the company. Institutional investors collectively hold 96.02% of Rogers’ shares.
• Rogers reported quarterly EPS of $0.92, below the $0.99 analyst consensus, while revenue of $216.8 million slightly exceeded estimates. The company guided for third-quarter EPS of $1.10–$1.30.
• ROG shares opened at $126.63, below their 50-day moving average of $138.72, while analysts maintain a consensus “Hold” rating with an average price target of $200.

Atreides Management LP purchased a new position in shares of Rogers Corporation (NYSE:ROG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 189,311 shares of the electronics maker's stock, valued at approximately $30,996,000. Atreides Management LP owned approximately 1.06% of Rogers at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ROG. BlackRock Inc. bought a new position in shares of Rogers in the 2nd quarter valued at $556,493,000. Norges Bank acquired a new position in shares of Rogers during the 4th quarter worth $119,157,000. Capital Research Global Investors lifted its position in shares of Rogers by 24.3% during the 4th quarter. Capital Research Global Investors now owns 1,519,040 shares of the electronics maker's stock worth $139,098,000 after buying an additional 297,380 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Rogers by 38.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 596,713 shares of the electronics maker's stock worth $40,863,000 after buying an additional 165,174 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in Rogers in the second quarter valued at about $22,859,000. 96.02% of the stock is owned by institutional investors.

Rogers Price Performance

ROG stock opened at $126.63 on Thursday. The company's 50-day moving average is $138.72 and its 200-day moving average is $127.88. The stock has a market capitalization of $2.26 billion, a PE ratio of 72.36 and a beta of 0.51. Rogers Corporation has a 1 year low of $75.14 and a 1 year high of $169.00.

Rogers (NYSE:ROG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). Rogers had a net margin of 3.75% and a return on equity of 5.17%. The firm had revenue of $216.80 million during the quarter, compared to analyst estimates of $215.00 million. Rogers has set its Q3 2026 guidance at 1.100-1.300 EPS. On average, analysts anticipate that Rogers Corporation will post 3.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ROG shares. Weiss Ratings upgraded shares of Rogers from a "sell (d)" rating to a "hold (c)" rating in a research note on Wednesday, August 12th. Zacks Research cut shares of Rogers from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Wall Street Zen upgraded shares of Rogers from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, B. Riley Financial raised their price objective on Rogers to $200.00 and gave the company a "buy" rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Rogers has a consensus rating of "Hold" and an average target price of $200.00.

Rogers Company Profile

Rogers Corporation NYSE: ROG is a global technology and materials company specializing in the development and manufacture of engineered materials and components. The company designs and produces a broad portfolio of high-performance elastomeric, foam, silicone, adhesive and thermal management solutions, as well as advanced circuit board laminates. Its products are engineered to meet stringent requirements in areas such as electrical insulation, thermal performance and electromagnetic shielding.

Rogers serves a diverse range of end markets, including automotive, aerospace and defense, telecommunications, consumer electronics and industrial applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source