California State Teachers Retirement System Decreases Position in Rogers Corporation (ROG)
California State Teachers Retirement System cut its holdings in shares of Rogers Corporation (NYSE:ROG) by 10.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,941 shares of the electronics maker’s stock after selling 3,553 shares during the period. California State Teachers Retirement System owned about 0.18% of Rogers Corporation worth $3,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its position in Rogers Corporation by 431.6% during the second quarter. BNP Paribas Arbitrage SA now owns 19,642 shares of the electronics maker’s stock valued at $2,134,000 after purchasing an additional 15,947 shares during the period. Teachers Advisors LLC increased its holdings in Rogers Corporation by 322.9% in the first quarter. Teachers Advisors LLC now owns 153,175 shares of the electronics maker’s stock valued at $13,153,000 after buying an additional 116,956 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Rogers Corporation in the second quarter valued at $1,521,000. Timpani Capital Management LLC purchased a new position in Rogers Corporation in the second quarter valued at $1,234,000. Finally, Legal & General Group Plc increased its holdings in Rogers Corporation by 8.8% in the second 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 in the last quarter. Institutional investors own 93.41% of the company’s stock.
A number of research analysts have weighed in on ROG shares. Zacks Investment Research cut shares of Rogers Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub cut shares of Rogers Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. B. Riley reaffirmed a “buy” rating and issued a $180.00 price objective (up previously from $147.00) on shares of Rogers Corporation in a report on Monday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price objective (up previously from $115.00) on shares of Rogers Corporation in a report on Wednesday, August 2nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $150.00.
Shares of Rogers Corporation (NYSE:ROG) opened at $149.08 on Tuesday. The company has a market cap of $2,784.75, a PE ratio of 28.48 and a beta of 1.14. 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 Corporation has a one year low of $64.19 and a one year high of $154.00.
Rogers Corporation (NYSE:ROG) last released its earnings results on Thursday, November 2nd. The electronics maker reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The business had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $198.16 million. Rogers Corporation had a net margin of 10.88% and a return on equity of 14.22%. The company’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. research analysts forecast that Rogers Corporation will post 5.5 EPS for the current fiscal year.
In other news, SVP Robert C. Daigle sold 208 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $135.86, for a total transaction of $28,258.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruce D. Hoechner sold 23,200 shares of the business’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 disclosure for this sale can be found here. Insiders have sold 35,981 shares of company stock valued at $4,644,611 in the last three months. Corporate 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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