King Luther Capital Management Corp Purchases 17,000 Shares of Rogers Corporation (NYSE:ROG)

Key Points

• King Luther Capital Management Corp increased its position in Rogers Corporation by 141.7%, owning 29,000 shares valued at approximately $1.96 million at the end of the recent reporting period.
• Several institutional investors significantly boosted their holdings in Rogers, with Ameriprise Financial increasing its shares by 66.0% during the fourth quarter.
• Rogers Corporation reported a Earnings Per Share of $0.34, missing analyst expectations of $0.50, while its revenue for the quarter was $202.80 million, surpassing the predicted $198.75 million.

King Luther Capital Management Corp grew its position in shares of Rogers Corporation (NYSE:ROG - Free Report) by 141.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,000 shares of the electronics maker's stock after purchasing an additional 17,000 shares during the period. King Luther Capital Management Corp owned approximately 0.16% of Rogers worth $1,958,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Rogers by 243.5% during the first quarter. GAMMA Investing LLC now owns 371 shares of the electronics maker's stock valued at $25,000 after buying an additional 263 shares in the last quarter. Versant Capital Management Inc grew its holdings in Rogers by 698.9% during the first quarter. Versant Capital Management Inc now owns 703 shares of the electronics maker's stock valued at $47,000 after purchasing an additional 615 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Rogers by 810.8% during the fourth quarter. Sterling Capital Management LLC now owns 592 shares of the electronics maker's stock valued at $60,000 after purchasing an additional 527 shares during the last quarter. Signaturefd LLC boosted its position in shares of Rogers by 6,118.8% in the first quarter. Signaturefd LLC now owns 995 shares of the electronics maker's stock valued at $67,000 after acquiring an additional 979 shares during the period. Finally, KBC Group NV boosted its position in shares of 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 acquiring an additional 450 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.

Rogers Stock Performance

ROG traded up $0.27 during midday trading on Friday, reaching $76.79. 209,141 shares of the company were exchanged, compared to its average volume of 343,729. Rogers Corporation has a one year low of $51.43 and a one year high of $114.05. The stock has a market capitalization of $1.39 billion, a P/E ratio of -21.75 and a beta of 0.46. The stock's 50-day simple moving average is $69.60 and its 200 day simple moving average is $70.85.

Rogers (NYSE:ROG - Get Free Report) last issued its earnings results on Thursday, July 31st. The electronics maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.16). Rogers had a positive return on equity of 3.04% and a negative net margin of 8.14%. The company had revenue of $202.80 million for the quarter, compared to the consensus estimate of $198.75 million. On average, research analysts anticipate that Rogers Corporation will post 3.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, B. Riley raised their target price on Rogers from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th.

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.