Westport Asset Management Inc. Invests $3.35 Million in Rogers Corporation $ROG

Key Points

• Westport Asset Management acquired 20,456 Rogers shares worth about $3.35 million, representing 1.4% of its portfolio and 0.11% of Rogers’ outstanding stock. Institutional investors collectively own 96.02% of the company.
• Rogers shares were down 5.0% at $129.85, with a market capitalization of approximately $2.32 billion. The stock trades at a P/E ratio of 74.20 and has ranged from $72.49 to $169.00 over the past year.
• Rogers reported quarterly EPS of $0.92, below the $0.99 consensus estimate, while revenue of $216.8 million exceeded expectations. Analysts give the stock an overall “Hold” rating, with an average price target of $200.

Westport Asset Management Inc. bought a new stake in Rogers Corporation (NYSE:ROG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 20,456 shares of the electronics maker's stock, valued at approximately $3,349,000. Rogers comprises 1.4% of Westport Asset Management Inc.'s investment portfolio, making the stock its 25th largest position. Westport Asset Management Inc. owned 0.11% of Rogers at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ROG. BlackRock Inc. purchased a new position in Rogers during the 2nd quarter worth approximately $556,493,000. Deutsche Bank AG purchased a new stake in Rogers in the second quarter valued at approximately $3,160,000. Global Retirement Partners LLC purchased a new stake in Rogers in the second quarter valued at approximately $244,000. Bank of New York Mellon Corp acquired a new stake in shares of Rogers in the second quarter valued at approximately $18,012,000. Finally, State of Wyoming acquired a new stake in shares of Rogers in the second quarter valued at approximately $42,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Rogers Stock Down 5.0%

ROG opened at $129.85 on Thursday. Rogers Corporation has a 52 week low of $72.49 and a 52 week high of $169.00. The business has a 50 day moving average price of $141.61 and a two-hundred day moving average price of $126.98. The company has a market cap of $2.32 billion, a PE ratio of 74.20 and a beta of 0.51.

Rogers (NYSE:ROG - Get Free Report) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.07). The company had revenue of $216.80 million during the quarter, compared to analysts' expectations of $215.00 million. Rogers had a net margin of 3.75% and a return on equity of 5.17%. Rogers has set its Q3 2026 guidance at 1.100-1.300 EPS. As a group, sell-side analysts expect that Rogers Corporation will post 3.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Rogers from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Zacks Research cut shares of Rogers from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of Rogers from a "sell (d)" rating to a "hold (c)" rating in a research note on Wednesday, August 12th. Finally, B. Riley Financial raised their price objective on shares of Rogers to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $200.00.

Rogers News Roundup

Here are the key news stories impacting Rogers this week:

• Neutral Sentiment: Political coverage involving former congressman Mike Rogers and Michigan polling is unrelated to Rogers Corporation. Telecom industry gave Mike Rogers nearly $100K Abdul El-Sayed edges out Mike Rogers in Michigan
• Neutral Sentiment: Mary Kay’s digital-transformation announcement mentions its CEO, Ryan Rogers, but does not involve Rogers Corporation. Mary Kay accelerates beauty innovation and digital transformation
• Neutral Sentiment: Smith+Nephew’s CFO transition concerns John Rogers and the medical-device company, not ROG. Smith+Nephew CFO John Rogers to exit
• Neutral Sentiment: News about shootings in Rogers, Arkansas, and sports coverage involving athletes named Rogers are unrelated to the company. Two people dead after shooting in Rogers Jake Rogers breaks MLB record

Rogers Company Profile

Rogers Corporation NYSE: ROG is a global technology and materials company specializing in the development and manufacture of engineered materials and components. The company designs and produces a broad portfolio of high-performance elastomeric, foam, silicone, adhesive and thermal management solutions, as well as advanced circuit board laminates. Its products are engineered to meet stringent requirements in areas such as electrical insulation, thermal performance and electromagnetic shielding.

Rogers serves a diverse range of end markets, including automotive, aerospace and defense, telecommunications, consumer electronics and industrial applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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