USA Financial Portformulas Corp Buys New Stake in Rogers Corporation (ROG)
USA Financial Portformulas Corp bought a new stake in Rogers Corporation (NYSE:ROG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,360 shares of the electronics maker’s stock, valued at approximately $315,000.
Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Rogers Corporation during the 1st quarter valued at about $106,000. Creative Planning boosted its stake in Rogers Corporation by 6,455.6% during the 2nd quarter. Creative Planning now owns 1,180 shares of the electronics maker’s stock valued at $128,000 after purchasing an additional 1,162 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Rogers Corporation by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,414 shares of the electronics maker’s stock valued at $154,000 after purchasing an additional 211 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in Rogers Corporation by 87.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,499 shares of the electronics maker’s stock valued at $163,000 after purchasing an additional 699 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA acquired a new position in Rogers Corporation during the 2nd quarter valued at about $163,000. 93.41% of the stock is owned by institutional investors and hedge funds.
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A number of equities analysts have issued reports on ROG shares. B. Riley reiterated a “buy” rating and set a $180.00 price target (up previously from $147.00) on shares of Rogers Corporation in a research note on Monday, October 30th. Zacks Investment Research downgraded Rogers Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub downgraded Rogers Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $135.00 target price (up previously from $115.00) on shares of Rogers Corporation in a research note on Wednesday, August 2nd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Rogers Corporation currently has an average rating of “Buy” and an average target price of $160.25.
Rogers Corporation (NYSE ROG) opened at $153.00 on Friday. Rogers Corporation has a 12 month low of $67.60 and a 12 month high of $154.00. 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 company has a market capitalization of $2,739.60, a P/E ratio of 28.02 and a beta of 1.14.
Rogers Corporation (NYSE:ROG) last posted its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $1.41 EPS for the quarter, beating the consensus estimate of $1.26 by $0.15. Rogers Corporation had a return on equity of 14.22% and a net margin of 10.88%. The business had revenue of $206.80 million for the quarter, compared to the consensus estimate of $198.16 million. During the same quarter in the prior year, the business earned $0.86 earnings per share. Rogers Corporation’s revenue for the quarter was up 25.1% on a year-over-year basis. equities analysts expect that Rogers Corporation will post 5.85 EPS for the current year.
In other Rogers Corporation news, SVP Robert C. Daigle sold 208 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $135.86, for a total transaction of $28,258.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carol R. Jensen sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $115.79, for a total transaction of $405,265.00. Following the sale, the director now directly owns 10,088 shares in the company, valued at approximately $1,168,089.52. The disclosure for this sale can be found here. Insiders have sold a total of 35,981 shares of company stock worth $4,644,611 in the last three months. Insiders own 1.50% of the company’s stock.
About Rogers Corporation
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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