Panagora Asset Management Inc. grew its holdings in shares of Rogers Co. (NYSE:ROG) by 32.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,507 shares of the electronics maker’s stock after acquiring an additional 7,061 shares during the quarter. Panagora Asset Management Inc. owned about 0.16% of Rogers worth $4,200,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of ROG. Raymond James Trust N.A. bought a new stake in shares of Rogers during the 3rd quarter valued at about $204,000. Global X Management Co LLC bought a new stake in shares of Rogers during the 2nd quarter valued at about $217,000. WealthTrust Axiom LLC bought a new stake in shares of Rogers during the 3rd quarter valued at about $220,000. WINTON GROUP Ltd bought a new stake in shares of Rogers during the 2nd quarter valued at about $226,000. Finally, FDx Advisors Inc. bought a new stake in shares of Rogers during the 3rd quarter valued at about $231,000.
Shares of NYSE ROG opened at $114.71 on Friday. The stock has a market cap of $2.22 billion, a P/E ratio of 22.13 and a beta of 1.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.22 and a current ratio of 4.39. Rogers Co. has a 1-year low of $105.60 and a 1-year high of $184.00.
Rogers (NYSE:ROG) last announced its quarterly earnings data on Thursday, November 1st. The electronics maker reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.11. The company had revenue of $226.90 million for the quarter, compared to analysts’ expectations of $224.89 million. Rogers had a return on equity of 12.78% and a net margin of 8.11%. Rogers’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. As a group, equities analysts expect that Rogers Co. will post 5.36 earnings per share for the current year.
A number of brokerages recently weighed in on ROG. Zacks Investment Research cut Rogers from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. ValuEngine raised Rogers from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Sidoti reissued a “buy” rating and set a $175.00 price objective on shares of Rogers in a report on Thursday, September 6th. Finally, B. Riley raised their price objective on Rogers from $150.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $176.67.
In other Rogers news, SVP Gary M. Glandon sold 3,000 shares of Rogers stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $150.01, for a total value of $450,030.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Bruce D. Hoechner sold 300 shares of Rogers stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $150.00, for a total value of $45,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,596 shares of company stock worth $2,341,753. 1.50% of the stock is currently owned by insiders.
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Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. The company's Advanced Connectivity Solutions segment offers circuit materials and solutions for connectivity applications in wireless communications infrastructure, automotive, connected devices, wired infrastructure, consumer electronics, and aerospace/defense.
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