Hedges Asset Management LLC Has $311,000 Stake in Rogers Corporation (NYSE:ROG)

Hedges Asset Management LLC boosted its stake in shares of Rogers Corporation (NYSE:ROG) by 29.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,600 shares of the electronics maker’s stock after purchasing an additional 1,050 shares during the quarter. Hedges Asset Management LLC’s holdings in Rogers were worth $311,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in shares of Rogers by 3.3% in the 4th quarter. Rhumbline Advisers now owns 56,248 shares of the electronics maker’s stock worth $5,715,000 after purchasing an additional 1,797 shares during the last quarter. Principal Financial Group Inc. boosted its position in Rogers by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 82,455 shares of the electronics maker’s stock valued at $8,378,000 after buying an additional 2,538 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Rogers by 11.0% during the fourth quarter. Handelsbanken Fonder AB now owns 6,072 shares of the electronics maker’s stock worth $617,000 after buying an additional 600 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Rogers by 52.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 5,217 shares of the electronics maker’s stock worth $530,000 after buying an additional 1,785 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Rogers by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,914 shares of the electronics maker’s stock worth $24,682,000 after buying an additional 13,311 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Rogers Stock Up 1.0%

Shares of NYSE ROG opened at $69.15 on Friday. Rogers Corporation has a 12-month low of $51.43 and a 12-month high of $134.07. The firm’s 50-day simple moving average is $65.58 and its 200 day simple moving average is $78.42. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 75.99 and a beta of 0.45.

Rogers (NYSE:ROG) last announced its earnings results on Tuesday, April 29th. The electronics maker reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. Rogers had a net margin of 2.09% and a return on equity of 3.52%. The company had revenue of $190.50 million during the quarter, compared to the consensus estimate of $187.50 million. On average, equities analysts expect that Rogers Corporation will post 3.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ROG. B. Riley boosted their target price on Rogers from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. CL King began coverage on Rogers in a research note on Monday, March 31st. They issued a “buy” rating and a $85.00 price objective on the stock.

Insider Buying and Selling

In other news, VP Griffin Melaney Gappert sold 756 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $62.55, for a total transaction of $47,287.80. Following the transaction, the vice president now owns 4,484 shares of the company’s stock, valued at $280,474.20. This represents a 14.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.35% of the stock is currently owned by corporate insiders.

Rogers Company Profile

Rogers Corporation engages in the design, development, manufacture, and sale of engineered materials and components worldwide. It operates through Advanced Electronics Solutions (AES), Elastomeric Material Solutions (EMS), and Other segments. The AES segment offers circuit materials, ceramic substrate materials, busbars, and cooling solutions for applications in electric and hybrid electric vehicles (EV/HEV), wireless infrastructure, automotive, renewable energy, aerospace and defense, mass transit, industrial, connected devices, and wired infrastructure.