Silvant Capital Management LLC purchased a new position in Rogers Co. (NYSE:ROG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,424 shares of the electronics maker’s stock, valued at approximately $409,000.
A number of other institutional investors also recently made changes to their positions in ROG. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Rogers by 59.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 916 shares of the electronics maker’s stock worth $148,000 after purchasing an additional 340 shares during the period. LPL Financial LLC purchased a new position in Rogers in the 4th quarter worth approximately $201,000. LS Investment Advisors LLC increased its stake in Rogers by 104.7% in the 4th quarter. LS Investment Advisors LLC now owns 1,263 shares of the electronics maker’s stock worth $205,000 after purchasing an additional 646 shares during the period. SG Americas Securities LLC purchased a new position in Rogers in the 1st quarter worth approximately $219,000. Finally, MML Investors Services LLC purchased a new position in Rogers in the 4th quarter worth approximately $237,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.
Rogers opened at $119.08 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.68 and a current ratio of 4.76. Rogers Co. has a 52-week low of $104.25 and a 52-week high of $184.00. The company has a market cap of $2.19 billion, a PE ratio of 21.34 and a beta of 1.51.
In related news, SVP Helen Zhang sold 9,325 shares of Rogers stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $110.06, for a total transaction of $1,026,309.50. Following the sale, the senior vice president now directly owns 13,676 shares in the company, valued at $1,505,180.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeffrey M. Grudzien sold 1,430 shares of Rogers stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $155.83, for a total value of $222,836.90. Following the sale, the senior vice president now owns 23,293 shares in the company, valued at $3,629,748.19. The disclosure for this sale can be found here. Insiders have sold 21,578 shares of company stock worth $2,458,036 over the last three months. Insiders own 1.50% of the company’s stock.
ROG has been the topic of a number of analyst reports. B. Riley decreased their price target on Rogers from $180.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, April 27th. ValuEngine cut Rogers from a “hold” rating to a “sell” rating in a research note on Thursday, May 3rd. Zacks Investment Research cut Rogers from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $175.00 target price (down from $180.00) on shares of Rogers in a research note on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $156.50.
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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