Los Angeles Capital Management & Equity Research Inc. Has $920,000 Stake in Rogers Corporation (ROG)
Los Angeles Capital Management & Equity Research Inc. increased its position in Rogers Corporation (NYSE:ROG) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,902 shares of the electronics maker’s stock after acquiring an additional 620 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Rogers were worth $920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its stake in Rogers by 431.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 19,642 shares of the electronics maker’s stock worth $2,134,000 after acquiring an additional 15,947 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Rogers in the 2nd quarter worth $1,521,000. Timpani Capital Management LLC acquired a new stake in Rogers during the 2nd quarter worth about $1,234,000. Legal & General Group Plc grew its position in Rogers by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 35,403 shares of the electronics maker’s stock worth $3,845,000 after purchasing an additional 2,877 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in Rogers by 2.5% during the 2nd quarter. Great West Life Assurance Co. Can now owns 26,444 shares of the electronics maker’s stock worth $2,869,000 after purchasing an additional 639 shares during the period. Institutional investors own 92.97% of the company’s stock.
In other news, insider Bruce D. Hoechner sold 23,200 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.23, for a total transaction of $3,090,936.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jeffrey M. Grudzien sold 1,888 shares of the firm’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 sale, the senior vice president now owns 24,192 shares in the company, valued at $3,828,867.84. The disclosure for this sale can be found here. Insiders have sold a total of 31,327 shares of company stock worth $4,191,128 over the last 90 days. Insiders own 1.50% of the company’s stock.
Shares of Rogers Corporation (NYSE:ROG) traded up $1.95 on Wednesday, reaching $163.72. The company’s stock had a trading volume of 117,000 shares, compared to its average volume of 127,581. The firm has a market cap of $3,010.80, a P/E ratio of 30.79 and a beta of 1.14. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.74 and a quick ratio of 2.74. Rogers Corporation has a 12 month low of $72.13 and a 12 month high of $168.07.
Rogers (NYSE:ROG) last announced its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.15. The company had revenue of $206.80 million for the quarter, compared to the consensus estimate of $198.16 million. Rogers had a return on equity of 14.22% and a net margin of 10.88%. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. analysts predict that Rogers Corporation will post 5.85 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised Rogers from a “hold” rating to a “strong-buy” rating and set a $171.00 price target on the stock in a research report on Wednesday, November 8th. B. Riley increased their price target on Rogers from $147.00 to $180.00 and gave the stock a “buy” rating in a research report on Sunday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $165.00 price target on shares of Rogers in a research report on Friday, November 3rd. Finally, BidaskClub raised Rogers from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $160.25.
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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