Nordea Investment Management AB Cuts Holdings in Rogers Corporation (ROG)
Nordea Investment Management AB decreased its holdings in shares of Rogers Corporation (NYSE:ROG) by 6.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,100 shares of the electronics maker’s stock after selling 4,000 shares during the quarter. Nordea Investment Management AB owned approximately 0.30% of Rogers worth $7,210,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in ROG. Rothschild Asset Management Inc. acquired a new stake in Rogers during the 3rd quarter valued at $22,261,000. Cortina Asset Management LLC acquired a new stake in Rogers during the 3rd quarter valued at $20,348,000. Conestoga Capital Advisors LLC lifted its holdings in Rogers by 41.2% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 451,983 shares of the electronics maker’s stock valued at $60,240,000 after purchasing an additional 131,853 shares during the last quarter. Walthausen & Co. LLC lifted its holdings in shares of Rogers by 103.1% during the second quarter. Walthausen & Co. LLC now owns 176,942 shares of the electronics maker’s stock worth $19,219,000 after buying an additional 89,838 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Rogers by 5.3% during the second quarter. Vanguard Group Inc. now owns 1,636,085 shares of the electronics maker’s stock worth $177,712,000 after buying an additional 82,322 shares in the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the company. B. Riley reissued a “buy” rating and set a $147.00 target price on shares of Rogers in a report on Sunday, August 20th. ValuEngine downgraded Rogers from a “buy” rating to a “hold” rating in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $165.00 target price on shares of Rogers in a report on Friday, November 3rd. BidaskClub raised Rogers from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Finally, Zacks Investment Research raised Rogers from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a report on Friday, August 18th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $160.25.
In related news, SVP Robert C. Daigle sold 208 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeffrey M. Grudzien sold 1,888 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $158.27, for a total value of $298,813.76. Following the completion of the transaction, the senior vice president now directly owns 24,192 shares of the company’s stock, valued at approximately $3,828,867.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,327 shares of company stock valued at $4,191,128. 1.50% of the stock is owned by insiders.
Rogers Corporation (NYSE ROG) traded down $3.36 on Friday, hitting $158.17. The stock had a trading volume of 217,384 shares, compared to its average volume of 178,125. Rogers Corporation has a 12 month low of $72.13 and a 12 month high of $168.07. The company has a quick ratio of 2.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2,939.10, a P/E ratio of 30.06 and a beta of 1.16.
Rogers (NYSE:ROG) last posted its earnings results on Thursday, November 2nd. The electronics maker reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.15. Rogers had a return on equity of 14.22% and a net margin of 10.88%. The company had revenue of $206.80 million during the quarter, compared to the consensus estimate of $198.16 million. During the same quarter last year, the firm earned $0.86 earnings per share. The company’s revenue was up 25.1% on a year-over-year basis. sell-side analysts expect that Rogers Corporation will post 5.85 EPS for the current year.
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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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