Insider Selling: Rogers Corporation (ROG) Insider Sells 23,200 Shares of Stock
Rogers Corporation (NYSE:ROG) insider Bruce D. Hoechner sold 23,200 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.23, for a total transaction of $3,090,936.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Rogers Corporation (ROG) traded down 0.31% during midday trading on Wednesday, reaching $136.50. 104,016 shares of the company traded hands. Rogers Corporation has a 12 month low of $51.98 and a 12 month high of $137.36. The company’s 50-day moving average price is $122.31 and its 200 day moving average price is $108.44. The firm has a market capitalization of $2.48 billion, a PE ratio of 32.92 and a beta of 1.16.
Rogers Corporation (NYSE:ROG) last released its quarterly earnings data on Monday, July 31st. The electronics maker reported $1.33 EPS for the quarter, topping the consensus estimate of $1.20 by $0.13. The business had revenue of $201.40 million for the quarter, compared to analyst estimates of $195.60 million. Rogers Corporation had a net margin of 10.21% and a return on equity of 13.28%. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 EPS. On average, equities analysts anticipate that Rogers Corporation will post $5.55 earnings per share for the current year.
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Several research firms have recently weighed in on ROG. BidaskClub downgraded shares of Rogers Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. B. Riley reissued a “buy” rating and issued a $147.00 price target on shares of Rogers Corporation in a research note on Sunday, August 20th. Zacks Investment Research downgraded shares of Rogers Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Sidoti reissued a “buy” rating and issued a $125.00 price target (up from $120.00) on shares of Rogers Corporation in a research note on Monday, June 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $135.00 price target (up from $115.00) on shares of Rogers Corporation in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $134.25.
Large investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC lifted its holdings in Rogers Corporation by 322.9% in the 1st quarter. Teachers Advisors LLC now owns 153,175 shares of the electronics maker’s stock valued at $13,153,000 after purchasing an additional 116,956 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Rogers Corporation by 431.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 19,642 shares of the electronics maker’s stock valued at $2,134,000 after purchasing an additional 15,947 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Rogers Corporation in the 2nd quarter valued at about $1,521,000. Timpani Capital Management LLC purchased a new position in Rogers Corporation in the 2nd quarter valued at about $1,234,000. Finally, Great West Life Assurance Co. Can lifted its holdings in Rogers Corporation by 2.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 26,444 shares of the electronics maker’s stock valued at $2,869,000 after purchasing an additional 639 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.
About Rogers Corporation
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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