Rogers Co. (ROG) Position Lowered by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System cut its holdings in shares of Rogers Co. (NYSE:ROG) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,151 shares of the electronics maker’s stock after selling 760 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Rogers were worth $1,201,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its position in Rogers by 124.3% in the second quarter. Janus Henderson Group PLC now owns 959,893 shares of the electronics maker’s stock worth $106,990,000 after purchasing an additional 531,945 shares during the last quarter. BlackRock Inc. boosted its position in Rogers by 10.0% in the second quarter. BlackRock Inc. now owns 2,536,309 shares of the electronics maker’s stock worth $282,697,000 after purchasing an additional 230,796 shares during the last quarter. Mesirow Financial Investment Management Equity Management purchased a new position in Rogers in the third quarter worth about $14,755,000. Conestoga Capital Advisors LLC boosted its position in Rogers by 14.0% in the third quarter. Conestoga Capital Advisors LLC now owns 530,484 shares of the electronics maker’s stock worth $78,151,000 after purchasing an additional 65,316 shares during the last quarter. Finally, Cortina Asset Management LLC boosted its position in Rogers by 27.6% in the second quarter. Cortina Asset Management LLC now owns 194,412 shares of the electronics maker’s stock worth $21,669,000 after purchasing an additional 42,049 shares during the last quarter.
In other news, insider Bruce D. Hoechner sold 4,500 shares of Rogers stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $150.04, for a total transaction of $675,180.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Marc J. Beulque sold 2,865 shares of Rogers stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $137.92, for a total value of $395,140.80. Following the transaction, the vice president now directly owns 2,298 shares in the company, valued at $316,940.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,961 shares of company stock worth $2,946,549. Insiders own 0.96% of the company’s stock.
Rogers (NYSE:ROG) last announced its earnings results on Thursday, November 1st. The electronics maker reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.11. The business had revenue of $226.90 million for the quarter, compared to analysts’ expectations of $224.89 million. Rogers had a return on equity of 12.78% and a net margin of 8.11%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $1.41 earnings per share. As a group, equities analysts anticipate that Rogers Co. will post 5.36 EPS for the current year.
ROG has been the topic of several research reports. B. Riley dropped their target price on Rogers from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, August 1st. Sidoti reissued a “buy” rating and issued a $175.00 target price on shares of Rogers in a research report on Thursday, September 6th. ValuEngine raised Rogers from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Finally, Zacks Investment Research raised Rogers from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $176.67.
Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. The company's Advanced Connectivity Solutions segment offers circuit materials and solutions for connectivity applications in wireless communications infrastructure, automotive, connected devices, wired infrastructure, consumer electronics, and aerospace/defense.
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