Goldman Sachs Group Inc. Reduces Holdings in Rogers Corporation (ROG)
Goldman Sachs Group Inc. lessened its stake in Rogers Corporation (NYSE:ROG) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 105,755 shares of the electronics maker’s stock after selling 144 shares during the quarter. Goldman Sachs Group Inc. owned 0.58% of Rogers Corporation worth $11,488,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake in shares of Rogers Corporation by 40.6% during the 1st quarter. Russell Investments Group Ltd. now owns 14,200 shares of the electronics maker’s stock worth $1,219,000 after purchasing an additional 4,102 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Rogers Corporation by 84.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 6,267 shares of the electronics maker’s stock worth $538,000 after purchasing an additional 2,867 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Rogers Corporation during the 1st quarter worth $589,000. Parametric Portfolio Associates LLC increased its stake in shares of Rogers Corporation by 33.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 41,368 shares of the electronics maker’s stock worth $3,552,000 after purchasing an additional 10,264 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Rogers Corporation during the 1st quarter worth $123,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.
ROG has been the topic of several analyst reports. Zacks Investment Research lowered shares of Rogers Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub lowered shares of Rogers Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. B. Riley restated a “buy” rating and set a $147.00 price target on shares of Rogers Corporation in a research note on Sunday, August 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $135.00 price target (up previously from $115.00) on shares of Rogers Corporation in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $134.25.
Rogers Corporation (NYSE ROG) opened at 138.91 on Thursday. The stock’s 50 day moving average is $129.08 and its 200 day moving average is $112.43. Rogers Corporation has a 52 week low of $51.98 and a 52 week high of $139.98. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 33.50 and a beta of 1.16.
Rogers Corporation (NYSE:ROG) last issued its earnings results on Monday, July 31st. The electronics maker reported $1.33 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $195.60 million. During the same period in the previous year, the company earned $0.88 earnings per share. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. Equities research analysts expect that Rogers Corporation will post $5.55 EPS for the current year.
In other news, SVP Robert C. Daigle sold 4,485 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $121.52, for a total value of $545,017.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,466 shares of company stock valued at $5,189,628. Company 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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