Algert Global LLC Grows Position in Rogers Co. (ROG)
Algert Global LLC boosted its position in shares of Rogers Co. (NYSE:ROG) by 115.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,195 shares of the electronics maker’s stock after purchasing an additional 7,615 shares during the period. Algert Global LLC owned 0.08% of Rogers worth $1,892,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its position in shares of Rogers by 431.6% in the second quarter. BNP Paribas Arbitrage SA now owns 19,642 shares of the electronics maker’s stock worth $2,134,000 after buying an additional 15,947 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Rogers in the second quarter worth about $1,521,000. Timpani Capital Management LLC acquired a new stake in shares of Rogers in the second quarter worth about $1,234,000. Legal & General Group Plc lifted its position in shares of Rogers by 8.8% in the second quarter. Legal & General Group Plc now owns 35,403 shares of the electronics maker’s stock worth $3,845,000 after buying an additional 2,877 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Rogers by 2.5% in the second quarter. Great West Life Assurance Co. Can now owns 26,444 shares of the electronics maker’s stock worth $2,869,000 after buying an additional 639 shares during the last quarter. 93.26% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Robert C. Daigle sold 208 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $135.86, for a total transaction of $28,258.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert C. Daigle sold 509 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $128.15, for a total value of $65,228.35. Following the transaction, the senior vice president now directly owns 22,915 shares of the company’s stock, valued at approximately $2,936,557.25. The disclosure for this sale can be found here. Insiders have sold a total of 28,570 shares of company stock valued at $3,847,144 in the last three months. 1.50% of the stock is owned by insiders.
Rogers (NYSE:ROG) last posted its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.15. Rogers had a return on equity of 14.22% and a net margin of 10.88%. The business had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $198.16 million. During the same quarter in the previous year, the firm earned $0.86 EPS. The firm’s revenue was up 25.1% compared to the same quarter last year. sell-side analysts expect that Rogers Co. will post 5.85 EPS for the current fiscal year.
A number of brokerages have weighed in on ROG. ValuEngine cut Rogers from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. B. Riley reaffirmed a “buy” rating and issued a $147.00 price target on shares of Rogers in a research report on Sunday, August 20th. Zacks Investment Research raised Rogers from a “hold” rating to a “strong-buy” rating and set a $171.00 price target for the company in a research report on Wednesday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $165.00 price target on shares of Rogers in a research report on Friday, November 3rd. 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’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $160.25.
Rogers Company 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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