Rogers Co. (ROG) Shares Sold by Pinebridge Investments L.P.
Pinebridge Investments L.P. lessened its stake in shares of Rogers Co. (NYSE:ROG) by 15.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,968 shares of the electronics maker’s stock after selling 2,320 shares during the period. Pinebridge Investments L.P. owned about 0.07% of Rogers worth $1,729,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP grew its stake in Rogers by 852.9% during the third quarter. Quantbot Technologies LP now owns 1,134 shares of the electronics maker’s stock valued at $151,000 after acquiring an additional 1,015 shares in the last quarter. Creative Planning grew its stake in Rogers by 6,455.6% during the second quarter. Creative Planning now owns 1,180 shares of the electronics maker’s stock valued at $128,000 after acquiring an additional 1,162 shares in the last quarter. Victory Capital Management Inc. grew its stake in Rogers by 17.5% during the second quarter. Victory Capital Management Inc. now owns 1,414 shares of the electronics maker’s stock valued at $154,000 after acquiring an additional 211 shares in the last quarter. Riverhead Capital Management LLC grew its stake in Rogers by 87.4% during the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the electronics maker’s stock valued at $163,000 after acquiring an additional 699 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA purchased a new position in Rogers during the second quarter valued at approximately $163,000. Institutional investors and hedge funds own 93.26% of the company’s stock.
In other news, SVP Robert C. Daigle sold 683 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $124.00, for a total value of $84,692.00. Following the completion of the sale, the senior vice president now directly owns 25,612 shares in the company, valued at approximately $3,175,888. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robert C. Daigle sold 2,074 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $125.02, for a total transaction of $259,291.48. Following the completion of the sale, the senior vice president now owns 25,565 shares of the company’s stock, valued at $3,196,136.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,327 shares of company stock valued at $4,191,128. 1.50% of the stock is currently owned by company insiders.
Shares of Rogers Co. (ROG) traded down $1.05 during trading on Thursday, reaching $151.20. 181,300 shares of the company’s stock traded hands, compared to its average volume of 129,032. Rogers Co. has a twelve month low of $73.53 and a twelve month high of $168.07. The company has a market capitalization of $2,777.64, a price-to-earnings ratio of 28.41 and a beta of 1.16. The company has a current ratio of 3.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.18.
Rogers (NYSE:ROG) last announced its earnings results on Thursday, November 2nd. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. Rogers had a net margin of 10.88% and a return on equity of 14.22%. The business had revenue of $206.80 million during the quarter, compared to analyst estimates of $198.16 million. During the same period in the previous year, the business posted $0.86 earnings per share. Rogers’s revenue for the quarter was up 25.1% on a year-over-year basis. analysts anticipate that Rogers Co. will post 5.85 EPS for the current year.
ROG has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Rogers from a “hold” rating to a “strong-buy” rating and set a $171.00 price objective for the company in a research note on Wednesday, November 8th. B. Riley reaffirmed a “buy” rating and set a $180.00 price objective (up previously from $147.00) on shares of Rogers in a research note on Monday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $165.00 target price on shares of Rogers in a research report on Friday, November 3rd. BidaskClub upgraded shares of Rogers from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Finally, ValuEngine lowered shares of Rogers from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $160.25.
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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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