Y Intercept Hong Kong Ltd Acquires Shares of 3,002 Rogers Corporation (NYSE:ROG)

Y Intercept Hong Kong Ltd bought a new position in shares of Rogers Corporation (NYSE:ROG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,002 shares of the electronics maker’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC grew its holdings in shares of Rogers by 6,118.8% in the 1st quarter. Signaturefd LLC now owns 995 shares of the electronics maker’s stock valued at $67,000 after buying an additional 979 shares during the period. CWM LLC lifted its holdings in Rogers by 11.8% during the first quarter. CWM LLC now owns 2,271 shares of the electronics maker’s stock worth $153,000 after acquiring an additional 240 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in Rogers by 18.3% in the first quarter. Linden Thomas Advisory Services LLC now owns 6,844 shares of the electronics maker’s stock valued at $462,000 after acquiring an additional 1,058 shares during the period. Principal Financial Group Inc. grew its stake in Rogers by 2.7% in the first quarter. Principal Financial Group Inc. now owns 84,683 shares of the electronics maker’s stock valued at $5,719,000 after acquiring an additional 2,228 shares during the period. Finally, KBC Group NV increased its holdings in shares of Rogers by 67.3% in the first quarter. KBC Group NV now owns 1,119 shares of the electronics maker’s stock worth $76,000 after acquiring an additional 450 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, B. Riley increased their target price on Rogers from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th.

Rogers Stock Down 1.2%

Shares of NYSE:ROG opened at $65.63 on Friday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 72.12 and a beta of 0.44. Rogers Corporation has a 12 month low of $51.43 and a 12 month high of $126.70. The company’s fifty day simple moving average is $68.32 and its 200 day simple moving average is $72.70.

Rogers (NYSE:ROG) last released its earnings results on Thursday, July 31st. The electronics maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.16). The firm had revenue of $202.80 million for the quarter, compared to the consensus estimate of $198.75 million. Rogers had a return on equity of 3.52% and a net margin of 2.09%. Research analysts expect that Rogers Corporation will post 3.57 earnings per share for the current fiscal 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.