Millennium Management LLC Lowers Position in Rogers Co. (NYSE:ROG)

Millennium Management LLC cut its holdings in Rogers Co. (NYSE:ROG - Free Report) by 81.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,720 shares of the electronics maker's stock after selling 11,794 shares during the quarter. Millennium Management LLC's holdings in Rogers were worth $276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Rogers by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 2,353,358 shares of the electronics maker's stock valued at $239,125,000 after acquiring an additional 40,835 shares in the last quarter. Norges Bank bought a new stake in Rogers in the 4th quarter worth approximately $113,725,000. Neuberger Berman Group LLC grew its holdings in shares of Rogers by 35.6% in the fourth quarter. Neuberger Berman Group LLC now owns 972,623 shares of the electronics maker's stock worth $98,828,000 after acquiring an additional 255,423 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Rogers by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 874,139 shares of the electronics maker's stock valued at $88,823,000 after purchasing an additional 50,708 shares during the last quarter. Finally, Nuance Investments LLC lifted its stake in shares of 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 period. Hedge funds and other institutional investors own 96.02% of the company's stock.

Insider Transactions at Rogers

In related news, VP Griffin Melaney Gappert sold 756 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $62.55, for a total value of $47,287.80. Following the transaction, the vice president now owns 4,484 shares of the company's stock, valued at $280,474.20. This trade represents a 14.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. B. Riley raised their target price on Rogers from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. CL King assumed coverage on shares of Rogers in a research report on Monday, March 31st. They set a "buy" rating and a $85.00 price objective on the stock.

Rogers Price Performance

Shares of NYSE ROG traded down $0.59 during midday trading on Thursday, reaching $70.43. 168,656 shares of the stock traded hands, compared to its average volume of 176,628. Rogers Co. has a one year low of $51.43 and a one year high of $134.07. The company's 50 day moving average is $63.12 and its 200 day moving average is $81.20. The stock has a market capitalization of $1.30 billion, a PE ratio of 49.95 and a beta of 0.45.

Rogers (NYSE:ROG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. Rogers had a return on equity of 3.98% and a net margin of 3.14%. The company had revenue of $190.50 million for the quarter, compared to analyst estimates of $187.50 million. As a group, equities analysts forecast that Rogers Co. will post 3.57 EPS for the current year.

About Rogers

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.