Rogers Corporation $ROG Shares Sold by UG Investment Advisers Ltd.

UG Investment Advisers Ltd. cut its holdings in shares of Rogers Corporation (NYSE:ROG) by 30.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,187 shares of the electronics maker’s stock after selling 16,376 shares during the quarter. Rogers comprises approximately 6.3% of UG Investment Advisers Ltd.’s investment portfolio, making the stock its 5th biggest position. UG Investment Advisers Ltd. owned 0.21% of Rogers worth $5,689,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Rogers in the 2nd quarter valued at about $556,493,000. Atreides Management LP purchased a new position in Rogers during the second quarter worth about $30,996,000. Bank of America Corp DE purchased a new position in Rogers during the second quarter worth about $22,859,000. Bank of New York Mellon Corp acquired a new stake in shares of Rogers during the second quarter valued at about $18,012,000. Finally, Man Group plc acquired a new stake in shares of Rogers during the second quarter valued at about $7,720,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROG has been the topic of a number of research analyst reports. Zacks Research raised shares of Rogers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. B. Riley Financial lowered their price objective on shares of Rogers from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday. Wall Street Zen upgraded shares of Rogers from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Weiss Ratings downgraded shares of Rogers from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, October 28th. Finally, Freedom Broker raised Rogers to a “strong-buy” rating in a research report on Thursday, October 1st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $180.00.

Rogers Trading Down 0.7%

ROG opened at $129.93 on Friday. The stock’s 50-day moving average price is $136.29 and its 200 day moving average price is $128.70. Rogers Corporation has a 12-month low of $75.14 and a 12-month high of $169.00. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 51.36 and a beta of 0.42.

Rogers (NYSE:ROG) last announced its earnings results on Tuesday, October 27th. The electronics maker reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.20. The company had revenue of $236.10 million during the quarter, compared to analysts’ expectations of $238.00 million. Rogers had a return on equity of 5.89% and a net margin of 5.30%. On average, research analysts forecast that Rogers Corporation will post 4.06 earnings per share for the current year.

About Rogers

Rogers Corporation (NYSE: ROG) develops and manufactures engineered materials for applications that require specialized electrical, thermal, or mechanical performance. Its products include high-frequency circuit materials, ceramic substrates for power electronics, and engineered foam and silicone materials. The company’s materials are used in markets including automotive and vehicle electrification, telecommunications, renewable energy, aerospace and defense, and industrial equipment. Rogers serves customers globally through its international operations.