Rogers (NYSE:ROG) Lifted to “Hold” at Zacks Investment Research
According to Zacks, “Rogers Corporation is a global leader in engineered materials to power, protect, and connect their world. With more than 180 years of materials science experience, Rogers delivers high-performance solutions that enable clean energy, internet connectivity, and safety and protection applications, as well as other technologies where reliability is critical. Rogers delivers Power Electronics Solutions for energy-efficient motor drives, e-Mobility and renewable energy; Elastomeric Material Solutions for sealing, vibration management and impact protection in mobile devices, transportation interiors, industrial equipment and performance apparel; and Advanced Connectivity Solutions for wireless infrastructure, automotive safety and radar systems. Headquartered in Arizona (USA), Rogers operates manufacturing facilities in the United States, China, Germany, Belgium, Hungary, and South Korea, with joint ventures and sales offices worldwide. “
ROG has been the topic of several other research reports. ValuEngine downgraded shares of Rogers from a buy rating to a hold rating in a report on Thursday, April 2nd. B. Riley boosted their price objective on shares of Rogers from $135.00 to $145.00 and gave the stock a buy rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Rogers presently has an average rating of Buy and an average price target of $131.67.
Rogers (NYSE:ROG) last issued its earnings results on Thursday, April 30th. The electronics maker reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. Rogers had a net margin of 3.75% and a return on equity of 10.57%. The company had revenue of $198.81 million during the quarter, compared to analyst estimates of $189.50 million. As a group, sell-side analysts predict that Rogers will post 4.41 EPS for the current fiscal year.
In other news, VP Jeff Tsao sold 305 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $105.49, for a total value of $32,174.45. Following the transaction, the vice president now directly owns 2,566 shares of the company’s stock, valued at $270,687.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith Barnes sold 425 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $111.00, for a total transaction of $47,175.00. Following the completion of the transaction, the director now directly owns 4,725 shares in the company, valued at $524,475. The disclosure for this sale can be found here. Company insiders own 1.09% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ROG. Citigroup Inc. boosted its holdings in Rogers by 3.4% during the 4th quarter. Citigroup Inc. now owns 12,733 shares of the electronics maker’s stock worth $1,589,000 after acquiring an additional 414 shares during the last quarter. Wrapmanager Inc. increased its position in shares of Rogers by 78.1% during the first quarter. Wrapmanager Inc. now owns 3,471 shares of the electronics maker’s stock valued at $328,000 after buying an additional 1,522 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Rogers by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 142,123 shares of the electronics maker’s stock valued at $17,728,000 after buying an additional 3,663 shares during the period. FDx Advisors Inc. increased its position in shares of Rogers by 3,473.6% during the first quarter. FDx Advisors Inc. now owns 72,829 shares of the electronics maker’s stock valued at $6,158,000 after buying an additional 70,791 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Rogers by 52.9% during the first quarter. Deutsche Bank AG now owns 16,195 shares of the electronics maker’s stock valued at $1,529,000 after buying an additional 5,604 shares during the period. 97.13% of the stock is currently owned by institutional investors.
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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