Russell Investments Group Ltd. Has $10.97 Million Stake in Rogers Co. (ROG)
Russell Investments Group Ltd. lifted its stake in shares of Rogers Co. (NYSE:ROG) by 83.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 82,279 shares of the electronics maker’s stock after purchasing an additional 37,431 shares during the quarter. Russell Investments Group Ltd. owned 0.45% of Rogers worth $10,966,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its holdings in shares of Rogers by 431.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 19,642 shares of the electronics maker’s stock worth $2,134,000 after purchasing an additional 15,947 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Rogers during the 2nd quarter worth $1,521,000. Timpani Capital Management LLC acquired a new stake in shares of Rogers during the 2nd quarter worth $1,234,000. Legal & General Group Plc grew its holdings in shares of Rogers by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 35,403 shares of the electronics maker’s stock worth $3,845,000 after purchasing an additional 2,877 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Rogers by 2.5% during the 2nd quarter. Great West Life Assurance Co. Can now owns 26,444 shares of the electronics maker’s stock worth $2,869,000 after purchasing an additional 639 shares in the last quarter. 93.26% of the stock is currently owned by institutional investors.
Rogers Co. (NYSE:ROG) traded down $2.93 during trading hours on Monday, reaching $158.17. The company had a trading volume of 217,300 shares, compared to its average volume of 128,551. The firm has a market capitalization of $2,885.64, a price-to-earnings ratio of 29.51 and a beta of 1.16. The company has a quick ratio of 2.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.18. Rogers Co. has a fifty-two week low of $72.13 and a fifty-two week high of $168.07.
Several analysts have recently issued reports on ROG shares. Zacks Investment Research raised Rogers from a “hold” rating to a “strong-buy” rating and set a $171.00 target price on the stock in a report on Wednesday, November 8th. B. Riley reaffirmed a “buy” rating and issued a $180.00 price objective (up from $147.00) on shares of Rogers in a research note on Monday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Rogers in a research note on Friday, November 3rd. BidaskClub raised Rogers from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Finally, ValuEngine lowered Rogers from a “buy” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $160.25.
In other Rogers news, insider Bruce D. Hoechner sold 23,200 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.23, for a total value of $3,090,936.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert C. Daigle sold 2,074 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $125.02, for a total value of $259,291.48. Following the completion of the transaction, 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. Insiders sold 31,327 shares of company stock worth $4,191,128 over the last ninety days. 1.50% of the stock is currently owned by insiders.
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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