Franklin Resources Inc. trimmed its stake in Rogers Corporation (NYSE:ROG) by 4.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 389,040 shares of the electronics maker’s stock after selling 17,700 shares during the quarter. Franklin Resources Inc. owned approximately 2.14% of Rogers Corporation worth $42,258,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ROG. Russell Investments Group Ltd. grew its holdings in shares of Rogers Corporation by 40.6% in the 1st quarter. Russell Investments Group Ltd. now owns 14,200 shares of the electronics maker’s stock worth $1,219,000 after acquiring an additional 4,102 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Rogers Corporation by 5.0% in the 1st quarter. Wells Fargo & Company MN now owns 81,816 shares of the electronics maker’s stock worth $7,026,000 after acquiring an additional 3,876 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Rogers Corporation by 7.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 25,805 shares of the electronics maker’s stock worth $2,216,000 after acquiring an additional 1,736 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Rogers Corporation in the 1st quarter worth $2,514,000. Finally, US Bancorp DE grew its holdings in shares of Rogers Corporation by 2.0% in the 1st quarter. US Bancorp DE now owns 6,390 shares of the electronics maker’s stock worth $549,000 after acquiring an additional 124 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

In related news, SVP Robert C. Daigle sold 4,485 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $121.52, for a total value of $545,017.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert C. Daigle sold 2,074 shares of the company’s stock in a transaction on Friday, September 15th. The shares were 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 approximately $3,196,136.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,784 shares of company stock valued at $1,641,297. 1.50% of the stock is owned by corporate insiders.

A number of equities analysts recently issued reports on the company. B. Riley restated a “buy” rating and issued a $147.00 target price on shares of Rogers Corporation in a report on Sunday, August 20th. Zacks Investment Research upgraded Rogers Corporation from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Friday, August 18th. BidaskClub upgraded Rogers Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Needham & Company LLC restated a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Rogers Corporation in a report on Wednesday, August 2nd. Finally, Sidoti restated a “buy” rating and issued a $125.00 target price (up from $120.00) on shares of Rogers Corporation in a report on Monday, June 19th. Eight analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $134.25.

Rogers Corporation (NYSE ROG) opened at 126.17 on Friday. Rogers Corporation has a one year low of $51.98 and a one year high of $126.50. The stock’s 50 day moving average price is $118.26 and its 200-day moving average price is $104.08. The stock has a market cap of $2.29 billion, a P/E ratio of 30.42 and a beta of 1.15.

Rogers Corporation (NYSE:ROG) last released its quarterly earnings data on Monday, July 31st. The electronics maker reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.13. Rogers Corporation had a net margin of 10.21% and a return on equity of 13.28%. The business had revenue of $201.40 million during the quarter, compared to analysts’ expectations of $195.60 million. During the same quarter in the prior year, the company earned $0.88 EPS. The firm’s quarterly revenue was up 27.9% on a year-over-year basis. On average, analysts predict that Rogers Corporation will post $5.55 earnings per share for the current year.

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Rogers Corporation 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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Institutional Ownership by Quarter for Rogers Corporation (NYSE:ROG)

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