Bank of New York Mellon Corp Sells 6,133 Shares of Rogers Corporation (NYSE:ROG)

Bank of New York Mellon Corp lessened its holdings in Rogers Corporation (NYSE:ROG - Free Report) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 109,545 shares of the electronics maker's stock after selling 6,133 shares during the period. Bank of New York Mellon Corp owned 0.59% of Rogers worth $7,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Rogers by 243.5% in the first quarter. GAMMA Investing LLC now owns 371 shares of the electronics maker's stock worth $25,000 after purchasing an additional 263 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Rogers by 810.8% in the fourth quarter. Sterling Capital Management LLC now owns 592 shares of the electronics maker's stock worth $60,000 after acquiring an additional 527 shares during the period. Versant Capital Management Inc lifted its stake in Rogers by 698.9% in the first quarter. Versant Capital Management Inc now owns 703 shares of the electronics maker's stock valued at $47,000 after buying an additional 615 shares during the period. KBC Group NV lifted its stake in Rogers by 67.3% in the first quarter. KBC Group NV now owns 1,119 shares of the electronics maker's stock valued at $76,000 after buying an additional 450 shares during the period. Finally, Covestor Ltd lifted its stake in Rogers by 43.7% in the fourth quarter. Covestor Ltd now owns 1,164 shares of the electronics maker's stock valued at $118,000 after buying an additional 354 shares during the period. Institutional investors own 96.02% of the company's stock.

Insider Buying and Selling at Rogers

In other news, VP Griffin Melaney Gappert sold 756 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $62.55, for a total transaction of $47,287.80. Following the completion of the transaction, the vice president owned 4,484 shares in the company, valued at approximately $280,474.20. This represents a 14.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.35% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ROG. B. Riley boosted their price target on Rogers from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. CL King assumed coverage on Rogers in a report on Monday, March 31st. They set a "buy" rating and a $85.00 price target for the company.

Rogers Stock Performance

NYSE:ROG traded down $0.29 during trading on Friday, reaching $65.21. The company's stock had a trading volume of 43,865 shares, compared to its average volume of 214,511. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 71.66 and a beta of 0.44. The firm has a 50 day moving average of $68.55 and a 200-day moving average of $73.79. Rogers Corporation has a 12 month low of $51.43 and a 12 month high of $129.14.

Rogers (NYSE:ROG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The company had revenue of $190.50 million during the quarter, compared to the consensus estimate of $187.50 million. Rogers had a return on equity of 3.52% and a net margin of 2.09%. Equities research analysts forecast that Rogers Corporation will post 3.57 earnings per share for the current fiscal year.

Rogers Company Profile

Rogers Corporation engages in the design, development, manufacture, and sale of engineered materials and components worldwide. It operates through Advanced Electronics Solutions (AES), Elastomeric Material Solutions (EMS), and Other segments. The AES segment offers circuit materials, ceramic substrate materials, busbars, and cooling solutions for applications in electric and hybrid electric vehicles (EV/HEV), wireless infrastructure, automotive, renewable energy, aerospace and defense, mass transit, industrial, connected devices, and wired infrastructure.