Castleark Management LLC Trims Stake in Rogers Corporation (ROG)

Castleark Management LLC trimmed its stake in shares of Rogers Corporation (NYSE:ROG) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,350 shares of the electronics maker’s stock after selling 1,035 shares during the period. Castleark Management LLC owned approximately 0.46% of Rogers Corporation worth $9,162,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ROG. Russell Investments Group Ltd. lifted its position in shares of Rogers Corporation by 40.6% during the first quarter. Russell Investments Group Ltd. now owns 14,200 shares of the electronics maker’s stock worth $1,219,000 after purchasing an additional 4,102 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Rogers Corporation by 84.3% in the first quarter. UBS Asset Management Americas Inc. now owns 6,267 shares of the electronics maker’s stock valued at $538,000 after buying an additional 2,867 shares during the period. Karp Capital Management Corp acquired a new position in Rogers Corporation in the first quarter valued at approximately $589,000. Sei Investments Co. lifted its holdings in Rogers Corporation by 258.8% in the first quarter. Sei Investments Co. now owns 14,376 shares of the electronics maker’s stock valued at $1,235,000 after buying an additional 10,369 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in Rogers Corporation by 33.0% in the first quarter. Parametric Portfolio Associates LLC now owns 41,368 shares of the electronics maker’s stock valued at $3,552,000 after buying an additional 10,264 shares during the period. Institutional investors own 92.89% of the company’s stock.

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Shares of Rogers Corporation (ROG) traded up 0.78% during midday trading on Friday, hitting $136.88. 23,763 shares of the stock traded hands. The stock has a market capitalization of $2.49 billion, a P/E ratio of 33.01 and a beta of 1.16. Rogers Corporation has a 52 week low of $51.98 and a 52 week high of $138.32. The firm has a 50-day moving average price of $126.52 and a 200-day moving average price of $110.73.

Rogers Corporation (NYSE:ROG) last released its earnings results on Monday, July 31st. The electronics maker reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.13. Rogers Corporation had a net margin of 10.21% and a return on equity of 13.28%. The company had revenue of $201.40 million for the quarter, compared to the consensus estimate of $195.60 million. During the same quarter in the previous year, the company earned $0.88 EPS. Rogers Corporation’s quarterly revenue was up 27.9% compared to the same quarter last year. On average, equities analysts predict that Rogers Corporation will post $5.55 earnings per share for the current fiscal year.

In other Rogers Corporation news, insider Bruce D. Hoechner sold 23,200 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $133.23, for a total transaction of $3,090,936.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert C. Daigle sold 208 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $135.86, for a total transaction of $28,258.88. The disclosure for this sale can be found here. Insiders have sold a total of 40,466 shares of company stock valued at $5,189,628 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

Several brokerages recently weighed in on ROG. B. Riley restated a “buy” rating and issued a $147.00 price objective on shares of Rogers Corporation in a report on Saturday, August 5th. BidaskClub upgraded shares of Rogers Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Sidoti restated a “buy” rating and issued a $125.00 price objective (up from $120.00) on shares of Rogers Corporation in a report on Monday, June 19th. Zacks Investment Research upgraded shares of Rogers Corporation from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Friday, August 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Rogers Corporation in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Rogers Corporation currently has a consensus rating of “Buy” and an average price target of $134.25.

About Rogers Corporation

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.

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Institutional Ownership by Quarter for Rogers Corporation (NYSE:ROG)

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