Rogers Target of Unusually Large Options Trading (ROG)

Rogers Co. (NYSE:ROG) was the target of some unusual options trading on Tuesday. Traders acquired 594 put options on the stock. This is an increase of 1,021% compared to the average volume of 53 put options.

ROG has been the topic of several research reports. Zacks Investment Research cut Rogers from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. B. Riley reissued a “buy” rating and issued a $180.00 price target (up from $147.00) on shares of Rogers in a research report on Monday, October 30th. Needham & Company LLC boosted their price target on Rogers to $180.00 and gave the stock a “positive” rating in a research report on Tuesday, December 19th. Finally, ValuEngine cut Rogers from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $164.00.

In other Rogers news, SVP Jeffrey M. Grudzien sold 1,888 shares of Rogers stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $158.27, for a total transaction of $298,813.76. Following the sale, the senior vice president now directly owns 24,192 shares of the company’s stock, valued at approximately $3,828,867.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

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

Shares of Rogers (NYSE ROG) opened at $164.04 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.74 and a quick ratio of 2.74. Rogers has a 12-month low of $76.20 and a 12-month high of $184.00. The company has a market capitalization of $3,080.00, a P/E ratio of 35.51 and a beta of 1.17.

Rogers (NYSE:ROG) last issued its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $1.41 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $198.16 million. During the same period in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. research analysts predict that Rogers will post 5.85 earnings per share for the current year.

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About Rogers

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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