Rhumbline Advisers Sells 2,656 Shares of Rogers Co. (NYSE:ROG)

Rhumbline Advisers cut its position in Rogers Co. (NYSE:ROG) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,592 shares of the electronics maker’s stock after selling 2,656 shares during the period. Rhumbline Advisers owned 0.29% of Rogers worth $3,619,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake 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 acquiring an additional 2,538 shares during the period. Peregrine Capital Management LLC grew its position in Rogers by 1.8% in the 4th quarter. Peregrine Capital Management LLC now owns 60,400 shares of the electronics maker’s stock valued at $6,137,000 after purchasing an additional 1,077 shares during the period. Handelsbanken Fonder AB raised its holdings 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. lifted its stake in shares of Rogers by 52.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 5,217 shares of the electronics maker’s stock valued at $530,000 after buying an additional 1,785 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Rogers by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,914 shares of the electronics maker’s stock valued at $24,682,000 after buying an additional 13,311 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

Rogers Price Performance

ROG opened at $68.21 on Friday. Rogers Co. has a 1 year low of $51.43 and a 1 year high of $134.07. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 48.38 and a beta of 0.45. The firm’s fifty day moving average price is $63.47 and its two-hundred day moving average price is $80.56.

Rogers (NYSE:ROG) last posted its quarterly earnings data on Tuesday, April 29th. The electronics maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. Rogers had a net margin of 3.14% and a return on equity of 3.98%. The firm had revenue of $190.50 million during the quarter, compared to analyst estimates of $187.50 million. As a group, equities analysts anticipate that Rogers Co. will post 3.57 EPS for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Rogers news, VP Griffin Melaney Gappert sold 756 shares of Rogers stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $62.55, for a total value of $47,287.80. Following the sale, the vice president now owns 4,484 shares of the company’s stock, valued at approximately $280,474.20. The trade was a 14.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.35% of the company’s stock.

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.