Pinnacle Associates Ltd. Sells 4,605 Shares of Rogers Corporation (NYSE:ROG)

Pinnacle Associates Ltd. cut its holdings in Rogers Corporation (NYSE:ROG - Free Report) by 4.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 91,435 shares of the electronics maker's stock after selling 4,605 shares during the quarter. Pinnacle Associates Ltd. owned about 0.49% of Rogers worth $6,175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Rogers during the 4th quarter worth approximately $113,725,000. Neuberger Berman Group LLC boosted its position in Rogers by 35.6% during the 4th 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 last quarter. Ameriprise Financial Inc. boosted its position in Rogers by 66.0% during the 4th quarter. Ameriprise Financial Inc. now owns 453,144 shares of the electronics maker's stock worth $46,044,000 after acquiring an additional 180,086 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new position in Rogers during the 4th quarter worth approximately $8,317,000. Finally, Cramer Rosenthal Mcglynn LLC boosted its position in Rogers by 92.8% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 145,278 shares of the electronics maker's stock worth $14,762,000 after acquiring an additional 69,941 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Rogers Stock Down 0.6%

Shares of NYSE ROG traded down $0.40 during trading hours on Friday, hitting $65.10. The company had a trading volume of 153,203 shares, compared to its average volume of 174,177. Rogers Corporation has a 1-year low of $51.43 and a 1-year high of $129.14. The firm's 50 day moving average is $68.55 and its 200-day moving average is $73.79. The stock has a market capitalization of $1.21 billion, a P/E ratio of 71.54 and a beta of 0.44.

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, beating analysts' consensus estimates of $0.24 by $0.03. Rogers had a return on equity of 3.52% and a net margin of 2.09%. The business had revenue of $190.50 million for the quarter, compared to analysts' expectations of $187.50 million. On average, sell-side analysts predict that Rogers Corporation will post 3.57 earnings per share for the current year.

Analysts Set New Price Targets

ROG has been the subject of a number of recent research reports. B. Riley upped their price target on Rogers from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. CL King began coverage on Rogers in a report on Monday, March 31st. They issued a "buy" rating and a $85.00 price objective for the company.

Insiders Place Their Bets

In related 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 value of $47,287.80. Following the sale, 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 is accessible through the SEC website. Company insiders own 1.35% of the company's stock.

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.