Icon Advisers Inc. Co. reduced its stake in shares of Rogers Co. (NYSE:ROG) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,639 shares of the electronics maker’s stock after selling 200 shares during the quarter. Icon Advisers Inc. Co. owned about 0.06% of Rogers worth $1,836,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in Rogers by 20.4% in the 4th quarter. Bank of America Corp DE now owns 61,583 shares of the electronics maker’s stock valued at $6,100,000 after purchasing an additional 10,420 shares in the last quarter. Jane Street Group LLC acquired a new stake in Rogers in the 4th quarter worth about $224,000. Norges Bank acquired a new stake in Rogers in the 4th quarter worth about $18,528,000. Virtu Financial LLC acquired a new stake in Rogers in the 1st quarter worth about $206,000. Finally, Conestoga Capital Advisors LLC raised its stake in Rogers by 0.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 550,387 shares of the electronics maker’s stock worth $87,445,000 after purchasing an additional 3,430 shares in the last quarter. 99.15% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of Rogers from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Stifel Nicolaus assumed coverage on shares of Rogers in a research report on Thursday, May 30th. They issued a “buy” rating and a $200.00 target price for the company. B. Riley boosted their target price on shares of Rogers from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, ValuEngine cut shares of Rogers from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $190.80.
Shares of NYSE:ROG traded up $5.91 during midday trading on Friday, hitting $136.78. The stock had a trading volume of 127,100 shares, compared to its average volume of 187,815. The company’s 50-day moving average price is $157.60 and its 200-day moving average price is $156.14. The company has a market capitalization of $2.46 billion, a P/E ratio of 23.71 and a beta of 2.16. The company has a quick ratio of 3.33, a current ratio of 4.52 and a debt-to-equity ratio of 0.22. Rogers Co. has a fifty-two week low of $89.21 and a fifty-two week high of $206.43.
Rogers (NYSE:ROG) last announced its quarterly earnings results on Wednesday, July 31st. The electronics maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.09. The company had revenue of $242.90 million for the quarter, compared to analyst estimates of $244.90 million. Rogers had a net margin of 10.39% and a return on equity of 14.33%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 EPS. Research analysts expect that Rogers Co. will post 6.3 EPS for the current fiscal year.
Rogers Company Profile
Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. It operates in Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES), and Other segments. The ACS segment offers circuit materials and solutions for connectivity applications in wireless infrastructure, automotive, aerospace and defense, connected devices, wired infrastructure, and consumer electronics under the RO3000, RO4000, RT/duroid, TMM, AD Series, and CLTE Series names.
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