Rogers Corporation (NYSE:ROG) Position Lowered by Royce & Associates LP

Key Points

• Royce & Associates LP reduced its stake in Rogers Corporation by 52.6%, selling a total of 195,324 shares in the first quarter, and now owns approximately 0.95% of the company.
• Rogers Corporation reported earnings per share (EPS) of $0.27 for the last quarter, exceeding analyst estimates of $0.24, with revenues of $190.5 million.
• Several institutional investors increased their positions in Rogers, including American Century Companies, which grew its holdings by 15.0%, and Vanguard Group, which now owns over 2.35 million shares.

Royce & Associates LP reduced its stake in shares of Rogers Corporation (NYSE:ROG - Free Report) by 52.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 176,102 shares of the electronics maker's stock after selling 195,324 shares during the period. Royce & Associates LP owned approximately 0.95% of Rogers worth $11,892,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ROG. Y Intercept Hong Kong Ltd acquired a new position in shares of Rogers during the 1st quarter worth approximately $203,000. Signaturefd LLC raised its position in shares of Rogers by 6,118.8% during the 1st quarter. Signaturefd LLC now owns 995 shares of the electronics maker's stock worth $67,000 after purchasing an additional 979 shares during the last quarter. CWM LLC raised its position in shares of Rogers by 11.8% during the 1st quarter. CWM LLC now owns 2,271 shares of the electronics maker's stock worth $153,000 after purchasing an additional 240 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Rogers by 18.3% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 6,844 shares of the electronics maker's stock valued at $462,000 after acquiring an additional 1,058 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Rogers by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 84,683 shares of the electronics maker's stock valued at $5,719,000 after acquiring an additional 2,228 shares during the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Stock Up 0.8%

Shares of ROG stock traded up $0.51 on Tuesday, reaching $66.66. 100,713 shares of the stock were exchanged, compared to its average volume of 216,876. The stock has a market cap of $1.23 billion, a P/E ratio of 73.24 and a beta of 0.44. The firm has a 50 day moving average of $68.40 and a two-hundred day moving average of $72.99. Rogers Corporation has a 1-year low of $51.43 and a 1-year high of $126.70.

Rogers (NYSE:ROG - Get Free Report) last announced 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. Rogers had a net margin of 2.09% and a return on equity of 3.52%. The firm had revenue of $190.50 million during the quarter, compared to analysts' expectations of $187.50 million. On average, equities research analysts predict that Rogers Corporation will post 3.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Rogers news, VP Griffin Melaney Gappert sold 756 shares of the company'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 completion of the transaction, the vice president directly owned 4,484 shares of the company's stock, valued at $280,474.20. This represents a 14.43% decrease in their position. The transaction 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.

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.