Rogers Co. (ROG) Position Lessened by Westport Asset Management Inc.
Westport Asset Management Inc. trimmed its position in shares of Rogers Co. (NYSE:ROG) by 18.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,000 shares of the electronics maker’s stock after selling 15,000 shares during the quarter. Rogers accounts for approximately 6.5% of Westport Asset Management Inc.’s investment portfolio, making the stock its 5th biggest position. Westport Asset Management Inc. owned 0.36% of Rogers worth $8,663,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its holdings in Rogers by 431.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 19,642 shares of the electronics maker’s stock valued at $2,134,000 after acquiring an additional 15,947 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Rogers in the 2nd quarter valued at about $1,521,000. Timpani Capital Management LLC purchased a new position in shares of Rogers in the 2nd quarter valued at about $1,234,000. Legal & General Group Plc boosted its stake in shares of Rogers by 8.8% in the 2nd quarter. Legal & General Group Plc now owns 35,403 shares of the electronics maker’s stock valued at $3,845,000 after buying an additional 2,877 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Rogers by 2.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 26,444 shares of the electronics maker’s stock valued at $2,869,000 after buying an additional 639 shares during the period. Institutional investors own 93.26% of the company’s stock.
Several brokerages have recently issued reports on ROG. B. Riley reiterated a “buy” rating and issued a $147.00 price objective on shares of Rogers in a research note on Sunday, August 20th. Needham & Company LLC reiterated a “buy” rating and issued a $165.00 price objective on shares of Rogers in a research note on Friday, November 3rd. Zacks Investment Research upgraded Rogers from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Friday, August 18th. Finally, ValuEngine cut Rogers from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One equities research 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’s stock. The stock has a consensus rating of “Buy” and an average price target of $160.25.
In related news, 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 transaction of $3,090,936.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jeffrey M. Grudzien sold 1,888 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was 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 of the company’s stock, valued at approximately $3,828,867.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,644 shares of company stock valued at $4,106,436. 1.50% of the stock is owned by company insiders.
Rogers Co. (ROG) traded up $0.33 during mid-day trading on Tuesday, reaching $155.33. The company had a trading volume of 146,200 shares, compared to its average volume of 129,081. The stock has a market capitalization of $2,827.81, a PE ratio of 28.92 and a beta of 1.16. Rogers Co. has a 12-month low of $74.24 and a 12-month high of $168.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.74 and a current ratio of 3.74.
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 consensus estimate of $1.26 by $0.15. The firm had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $198.16 million. Rogers had a return on equity of 14.22% and a net margin of 10.88%. The firm’s revenue was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. research analysts predict that Rogers Co. will post 5.85 EPS for the current fiscal year.
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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