Rogers Corporation (ROG) Shares Bought by HighTower Advisors LLC
HighTower Advisors LLC increased its stake in Rogers Corporation (NYSE:ROG) by 29.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 7,542 shares of the electronics maker’s stock after buying an additional 1,700 shares during the quarter. HighTower Advisors LLC’s holdings in Rogers Corporation were worth $819,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of Rogers Corporation by 60,174.9% in the 1st quarter. BlackRock Inc. now owns 2,189,786 shares of the electronics maker’s stock worth $188,037,000 after buying an additional 2,186,153 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Rogers Corporation by 5.3% during the second quarter. Vanguard Group Inc. now owns 1,636,085 shares of the electronics maker’s stock valued at $177,712,000 after purchasing an additional 82,322 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Rogers Corporation by 1.9% during the second quarter. Neuberger Berman Group LLC now owns 1,533,535 shares of the electronics maker’s stock valued at $166,573,000 after purchasing an additional 28,911 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Rogers Corporation by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,049,565 shares of the electronics maker’s stock valued at $114,004,000 after purchasing an additional 5,406 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Rogers Corporation by 3.4% during the second quarter. Northern Trust Corp now owns 618,786 shares of the electronics maker’s stock valued at $67,212,000 after purchasing an additional 20,253 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.
In related news, SVP Robert C. Daigle sold 208 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $135.86, for a total value of $28,258.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bruce D. Hoechner sold 23,200 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $133.23, for a total value of $3,090,936.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,466 shares of company stock worth $5,189,628. 1.50% of the stock is owned by insiders.
Several equities research analysts have commented on ROG shares. B. Riley reaffirmed a “buy” rating and set a $147.00 price objective on shares of Rogers Corporation in a report on Sunday, August 20th. Zacks Investment Research raised shares of Rogers Corporation from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Friday, August 18th. BidaskClub raised shares of Rogers Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price objective (up from $115.00) on shares of Rogers Corporation in a report on Wednesday, August 2nd. Finally, Sidoti reaffirmed a “buy” rating and set a $125.00 price objective (up from $120.00) on shares of Rogers Corporation in a report on Monday, June 19th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Rogers Corporation presently has an average rating of “Buy” and a consensus target price of $134.25.
Shares of Rogers Corporation (ROG) opened at 136.70 on Friday. The stock has a market capitalization of $2.48 billion, a P/E ratio of 32.96 and a beta of 1.16. Rogers Corporation has a 12-month low of $51.98 and a 12-month high of $138.32. The firm’s 50-day moving average is $127.48 and its 200 day moving average is $111.28.
Rogers Corporation (NYSE:ROG) last posted its quarterly earnings results on Monday, July 31st. The electronics maker reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.13. Rogers Corporation had a return on equity of 13.28% and a net margin of 10.21%. The company had revenue of $201.40 million for the quarter, compared to analysts’ expectations of $195.60 million. During the same period in the previous year, the firm earned $0.88 EPS. The firm’s revenue was up 27.9% compared to the same quarter last year. On average, equities research analysts forecast that Rogers Corporation will post $5.55 EPS for the current fiscal year.
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Rogers Corporation Profile
Rogers Corporation manufactures and sells engineered materials and components for mission critical applications. The Company’s segments are Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES) and Other. The ACS segment manufactures and sells circuit materials and solutions for applications in wireless communications infrastructure, automotive, connected devices, consumer electronics and aerospace/defense.
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