Rogers Co. (NYSE:ROG) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. decreased its holdings in Rogers Co. (NYSE:ROG) by 14.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 108,275 shares of the electronics maker’s stock after selling 18,400 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Rogers were worth $11,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ROG. Sterling Capital Management LLC grew its holdings in Rogers by 810.8% in the fourth quarter. Sterling Capital Management LLC now owns 592 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 527 shares during the period. Covestor Ltd raised its stake in Rogers by 43.7% during the fourth quarter. Covestor Ltd now owns 1,164 shares of the electronics maker’s stock worth $118,000 after purchasing an additional 354 shares during the period. Bank of Montreal Can boosted its holdings in shares of Rogers by 6.2% in the 4th quarter. Bank of Montreal Can now owns 2,022 shares of the electronics maker’s stock valued at $205,000 after purchasing an additional 118 shares during the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Rogers during the 4th quarter valued at $222,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Rogers during the 4th quarter valued at $274,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ROG. CL King started coverage on Rogers in a research report on Monday, March 31st. They issued a “buy” rating and a $85.00 target price on the stock. B. Riley upped their price target 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 1.0%

ROG opened at $70.32 on Thursday. Rogers Co. has a 52-week low of $51.43 and a 52-week high of $134.07. The company has a 50 day moving average of $64.72 and a two-hundred day moving average of $86.29. The company has a market cap of $1.30 billion, a P/E ratio of 49.87 and a beta of 0.41.

Rogers (NYSE:ROG) last posted its earnings results on Tuesday, April 29th. The electronics maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. Rogers had a net margin of 3.14% and a return on equity of 3.98%. The business had revenue of $190.50 million for the quarter, compared to analyst estimates of $187.50 million. Research analysts anticipate that Rogers Co. will post 3.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Griffin Melaney Gappert sold 756 shares of Rogers stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $62.55, for a total transaction of $47,287.80. Following the sale, the vice president now owns 4,484 shares in the company, valued at $280,474.20. This trade represents a 14.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.35% of the stock is currently owned by insiders.

About Rogers

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.