Trillium Asset Management LLC Sells 31,384 Shares of Rogers Corporation (NYSE:ROG)

Key Points

• Trillium Asset Management LLC has reduced its stake in Rogers Corporation by 45.3%, now holding 37,860 shares valued at approximately $2.56 million.
• Analysts have set a new target price of $85.00 for Rogers shares, up from $80.00, while giving the company a "buy" rating.
• Rogers Corporation reported earnings of $0.34 per share, missing estimates by $0.16, with a quarterly revenue of $202.8 million exceeding expectations of $198.75 million.

Trillium Asset Management LLC lessened its stake in shares of Rogers Corporation (NYSE:ROG - Free Report) by 45.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 37,860 shares of the electronics maker's stock after selling 31,384 shares during the period. Trillium Asset Management LLC owned approximately 0.20% of Rogers worth $2,557,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its stake in Rogers by 66.0% during the fourth quarter. Ameriprise Financial Inc. now owns 453,144 shares of the electronics maker's stock worth $46,044,000 after purchasing an additional 180,086 shares during the last quarter. Cramer Rosenthal Mcglynn LLC lifted its holdings in shares of Rogers by 92.8% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 145,278 shares of the electronics maker's stock worth $14,762,000 after purchasing an additional 69,941 shares during the last quarter. Bank of America Corp DE increased its position in shares of Rogers by 26.6% during the 4th quarter. Bank of America Corp DE now owns 321,337 shares of the electronics maker's stock valued at $32,651,000 after purchasing an additional 67,454 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of 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 acquiring an additional 50,708 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Rogers during the first quarter valued at $3,379,000. Hedge funds and other institutional investors own 96.02% of the company's stock.

Rogers Price Performance

Shares of ROG stock traded up $0.27 during mid-day trading on Friday, hitting $76.79. The company had a trading volume of 209,141 shares, compared to its average volume of 343,729. Rogers Corporation has a 52-week low of $51.43 and a 52-week high of $114.05. The stock's 50 day moving average price is $69.60 and its 200-day moving average price is $70.85. The company has a market capitalization of $1.39 billion, a P/E ratio of -21.75 and a beta of 0.46.

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

Wall Street Analyst Weigh In

Separately, B. Riley upped their price objective on Rogers from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th.

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.