Westfield Capital Management Co. LP Invests $38.83 Million in Rogers Co. (NYSE:ROG)
Westfield Capital Management Co. LP purchased a new stake in shares of Rogers Co. (NYSE:ROG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 225,020 shares of the electronics maker’s stock, valued at approximately $38,834,000. Westfield Capital Management Co. LP owned approximately 1.21% of Rogers at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in ROG. BlackRock Inc. grew its stake in Rogers by 0.8% in the 1st quarter. BlackRock Inc. now owns 2,666,838 shares of the electronics maker’s stock worth $423,707,000 after acquiring an additional 21,452 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Rogers by 5.0% during the 1st quarter. William Blair Investment Management LLC now owns 1,514,044 shares of the electronics maker’s stock worth $240,551,000 after acquiring an additional 72,356 shares during the period. Conestoga Capital Advisors LLC raised its holdings in shares of Rogers by 2.6% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 564,966 shares of the electronics maker’s stock worth $97,502,000 after acquiring an additional 14,579 shares during the period. Wells Fargo & Company MN boosted its position in shares of Rogers by 17.9% during the 2nd quarter. Wells Fargo & Company MN now owns 380,761 shares of the electronics maker’s stock valued at $65,711,000 after acquiring an additional 57,753 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in shares of Rogers by 11.1% during the 1st quarter. Frontier Capital Management Co. LLC now owns 331,316 shares of the electronics maker’s stock valued at $52,639,000 after acquiring an additional 33,162 shares during the last quarter. 96.61% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on ROG. Zacks Investment Research downgraded shares of Rogers from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. ValuEngine cut Rogers from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus assumed coverage on shares of Rogers in a report on Thursday, May 30th. They issued a “buy” rating and a $200.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $194.75.
Rogers (NYSE:ROG) last released its quarterly earnings results on Wednesday, July 31st. The electronics maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.09. The company had revenue of $242.90 million for the quarter, compared to analysts’ expectations of $244.90 million. Rogers had a return on equity of 14.33% and a net margin of 10.39%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 earnings per share. Analysts predict that Rogers Co. will post 6.3 earnings per share for the current year.
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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