Wells Fargo & Company MN Boosts Stake in Rogers Co. (ROG)

Wells Fargo & Company MN grew its position in Rogers Co. (NYSE:ROG) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,829 shares of the electronics maker’s stock after purchasing an additional 5,113 shares during the quarter. Wells Fargo & Company MN owned about 0.49% of Rogers worth $11,839,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Amalgamated Bank grew its position in Rogers by 4.6% during the second quarter. Amalgamated Bank now owns 2,530 shares of the electronics maker’s stock worth $275,000 after buying an additional 111 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Rogers by 10.2% during the second quarter. Ameritas Investment Partners Inc. now owns 1,584 shares of the electronics maker’s stock worth $172,000 after buying an additional 147 shares in the last quarter. M&T Bank Corp grew its position in Rogers by 8.4% during the second quarter. M&T Bank Corp now owns 2,595 shares of the electronics maker’s stock worth $282,000 after buying an additional 202 shares in the last quarter. Victory Capital Management Inc. grew its position in Rogers by 17.5% during the second quarter. Victory Capital Management Inc. now owns 1,414 shares of the electronics maker’s stock worth $154,000 after buying an additional 211 shares in the last quarter. Finally, Pacad Investment Ltd. grew its position in Rogers by 15.8% during the second quarter. Pacad Investment Ltd. now owns 2,200 shares of the electronics maker’s stock worth $239,000 after buying an additional 300 shares in the last quarter. 93.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of Rogers Co. (NYSE ROG) opened at $159.60 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.74 and a current ratio of 3.74. Rogers Co. has a 12 month low of $74.24 and a 12 month high of $168.07. The firm has a market capitalization of $2,870.00, a price-to-earnings ratio of 34.55 and a beta of 1.16.

Rogers (NYSE:ROG) last released its earnings results on Thursday, November 2nd. The electronics maker reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.15. Rogers had a return on equity of 14.22% and a net margin of 10.88%. The firm had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $198.16 million. During the same period in the prior year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 25.1% on a year-over-year basis. equities analysts anticipate that Rogers Co. will post 5.85 EPS for the current fiscal year.

In other Rogers news, insider Bruce D. Hoechner sold 23,200 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $133.23, for a total transaction of $3,090,936.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jeffrey M. Grudzien sold 1,888 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $158.27, for a total value of $298,813.76. Following the sale, the senior vice president now owns 24,192 shares of the company’s stock, valued at $3,828,867.84. The disclosure for this sale can be found here. Insiders have sold 27,516 shares of company stock valued at $3,712,254 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Needham & Company LLC increased their price target on Rogers to $180.00 and gave the stock a “positive” rating in a research report on Tuesday, December 19th. B. Riley reissued a “buy” rating and set a $180.00 price target on shares of Rogers in a research report on Friday, December 15th. ValuEngine downgraded Rogers from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research raised Rogers from a “hold” rating to a “strong-buy” rating and set a $171.00 price target on the stock in a research report on Wednesday, November 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $164.00.

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Rogers Company Profile

Rogers Corporation manufactures and sells engineered materials and components for mission critical applications. The Company’s segments are Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES) and Other. The ACS segment manufactures and sells circuit materials and solutions for applications in wireless communications infrastructure, automotive, connected devices, consumer electronics and aerospace/defense.

Institutional Ownership by Quarter for Rogers (NYSE:ROG)

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