Pier Capital LLC trimmed its position in Rogers Co. (NYSE:ROG) by 21.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 38,491 shares of the electronics maker’s stock after selling 10,263 shares during the period. Rogers comprises 1.1% of Pier Capital LLC’s investment portfolio, making the stock its 26th biggest position. Pier Capital LLC’s holdings in Rogers were worth $6,232,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of ROG. Standard Life Aberdeen plc bought a new position in shares of Rogers during the 4th quarter valued at approximately $39,942,000. Rothschild Asset Management Inc. bought a new position in shares of Rogers during the 3rd quarter valued at approximately $22,261,000. Cortina Asset Management LLC bought a new position in shares of Rogers during the 3rd quarter valued at approximately $20,348,000. OppenheimerFunds Inc. grew its position in shares of Rogers by 2,714.0% during the 4th quarter. OppenheimerFunds Inc. now owns 126,405 shares of the electronics maker’s stock valued at $20,468,000 after acquiring an additional 121,913 shares during the period. Finally, GCA Investment Management LLC bought a new position in shares of Rogers during the 4th quarter valued at approximately $17,825,000. 96.61% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on ROG. Zacks Investment Research downgraded shares of Rogers from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. Needham & Company LLC reissued a “buy” rating and set a $175.00 target price (down from $180.00) on shares of Rogers in a research report on Thursday, March 1st. B. Riley reissued a “buy” rating and set a $180.00 target price on shares of Rogers in a research report on Friday, December 15th. Finally, ValuEngine downgraded shares of Rogers from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Rogers has an average rating of “Buy” and a consensus target price of $162.75.
Rogers stock opened at $137.54 on Monday. Rogers Co. has a 52-week low of $80.35 and a 52-week high of $184.00. The firm has a market cap of $2,519.24, a P/E ratio of 31.69 and a beta of 1.36. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.01 and a current ratio of 3.99.
Rogers (NYSE:ROG) last announced its quarterly earnings results on Tuesday, February 27th. The electronics maker reported $1.36 EPS for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.06). The business had revenue of $209.01 million for the quarter, compared to analysts’ expectations of $206.50 million. Rogers had a net margin of 9.80% and a return on equity of 14.72%. sell-side analysts anticipate that Rogers Co. will post 6.17 earnings per share for the current fiscal year.
In related news, SVP Jeffrey M. Grudzien sold 1,430 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $155.83, for a total transaction of $222,836.90. Following the sale, the senior vice president now directly owns 23,293 shares in the company, valued at approximately $3,629,748.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jay B. Knoll sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $131.78, for a total transaction of $164,725.00. Following the sale, the senior vice president now owns 5,909 shares in the company, valued at $778,688.02. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
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Rogers Company Profile
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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