Principal Financial Group Inc. Buys 2,228 Shares of Rogers Corporation (NYSE:ROG)

Principal Financial Group Inc. lifted its position in Rogers Corporation (NYSE:ROG) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,683 shares of the electronics maker’s stock after buying an additional 2,228 shares during the quarter. Principal Financial Group Inc. owned approximately 0.46% of Rogers worth $5,719,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Rogers by 243.5% during the 1st quarter. GAMMA Investing LLC now owns 371 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 263 shares during the last quarter. Versant Capital Management Inc lifted its position in Rogers by 698.9% during the first quarter. Versant Capital Management Inc now owns 703 shares of the electronics maker’s stock valued at $47,000 after purchasing an additional 615 shares during the last quarter. Sterling Capital Management LLC grew its stake in Rogers by 810.8% in the 4th quarter. Sterling Capital Management LLC now owns 592 shares of the electronics maker’s stock worth $60,000 after buying an additional 527 shares in the last quarter. KBC Group NV grew its stake in Rogers by 67.3% in the 1st quarter. KBC Group NV now owns 1,119 shares of the electronics maker’s stock worth $76,000 after buying an additional 450 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Rogers by 43.7% in the 4th quarter. Covestor Ltd now owns 1,164 shares of the electronics maker’s stock worth $118,000 after buying an additional 354 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Rogers

In related news, VP Griffin Melaney Gappert sold 756 shares of Rogers stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $62.55, for a total value of $47,287.80. Following the transaction, the vice president directly owned 4,484 shares of the company’s stock, valued at $280,474.20. The trade was a 14.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.35% of the company’s stock.

Rogers Stock Performance

ROG stock opened at $65.74 on Thursday. The company has a market capitalization of $1.22 billion, a PE ratio of 72.24 and a beta of 0.44. Rogers Corporation has a one year low of $51.43 and a one year high of $134.07. The company’s 50 day moving average price is $68.87 and its two-hundred day moving average price is $75.25.

Rogers (NYSE:ROG) last issued its earnings results on Tuesday, April 29th. The electronics maker reported $0.27 EPS 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 for the quarter, compared to analysts’ expectations of $187.50 million. On average, research analysts predict that Rogers Corporation will post 3.57 EPS for the current year.

Rogers 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.