Gotham Asset Management LLC lessened its holdings in shares of Rogers Co. (NYSE:ROG - Free Report) by 46.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,708 shares of the electronics maker's stock after selling 6,749 shares during the period. Gotham Asset Management LLC's holdings in Rogers were worth $783,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Rogers by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 2,353,358 shares of the electronics maker's stock worth $239,125,000 after purchasing an additional 40,835 shares during the last quarter. Norges Bank bought a new position in Rogers in the 4th quarter worth about $113,725,000. Neuberger Berman Group LLC grew its position in Rogers by 35.6% in the 4th quarter. Neuberger Berman Group LLC now owns 972,623 shares of the electronics maker's stock worth $98,828,000 after purchasing an additional 255,423 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Rogers by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 874,139 shares of the electronics maker's stock worth $88,823,000 after purchasing an additional 50,708 shares during the last quarter. Finally, Nuance Investments LLC grew its position in Rogers by 26.6% in the 4th quarter. Nuance Investments LLC now owns 810,081 shares of the electronics maker's stock worth $82,312,000 after purchasing an additional 170,145 shares during the last quarter. Institutional investors own 96.02% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on ROG. CL King began coverage on shares of Rogers in a research report on Monday, March 31st. They issued a "buy" rating and a $85.00 target price for the company. B. Riley upped their target price on shares of Rogers from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th.
Read Our Latest Stock Report on ROG
Insider Transactions at Rogers
In related news, VP Griffin Melaney Gappert sold 756 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $62.55, for a total transaction of $47,287.80. Following the completion of the sale, the vice president now directly owns 4,484 shares in the company, valued at approximately $280,474.20. This trade represents a 14.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.35% of the company's stock.
Rogers Stock Performance
Shares of NYSE:ROG traded down $1.57 during trading on Friday, reaching $65.48. The company had a trading volume of 117,025 shares, compared to its average volume of 178,091. The firm's fifty day moving average is $63.59 and its 200 day moving average is $84.42. The firm has a market capitalization of $1.21 billion, a PE ratio of 46.44 and a beta of 0.41. Rogers Co. has a twelve month low of $51.43 and a twelve month high of $134.07.
Rogers (NYSE:ROG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. The company had revenue of $190.50 million during the quarter, compared to analyst estimates of $187.50 million. Rogers had a net margin of 3.14% and a return on equity of 3.98%. Equities analysts predict that Rogers Co. will post 3.57 earnings per share for the current fiscal year.
About Rogers
(
Free Report)
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.
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