Corebridge Financial Inc. Cuts Stake in Rogers Co. (NYSE:ROG)

Corebridge Financial Inc. lessened its holdings in Rogers Co. (NYSE:ROG) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,938 shares of the electronics maker’s stock after selling 771 shares during the quarter. Corebridge Financial Inc.’s holdings in Rogers were worth $1,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ROG. Vanguard Group Inc. increased its holdings in shares of Rogers by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 2,353,358 shares of the electronics maker’s stock worth $239,125,000 after buying an additional 40,835 shares during the period. KLP Kapitalforvaltning AS bought a new position in Rogers during the 4th quarter worth approximately $325,000. Sei Investments Co. increased its stake in Rogers by 7.9% in the 4th quarter. Sei Investments Co. now owns 43,368 shares of the electronics maker’s stock worth $4,407,000 after purchasing an additional 3,177 shares during the period. American Century Companies Inc. lifted its position in Rogers by 15.0% in the fourth quarter. American Century Companies Inc. now owns 34,954 shares of the electronics maker’s stock valued at $3,552,000 after purchasing an additional 4,556 shares during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its stake in shares of Rogers by 7.4% during the fourth quarter. Tocqueville Asset Management L.P. now owns 18,946 shares of the electronics maker’s stock valued at $1,925,000 after purchasing an additional 1,310 shares during the period. 96.02% of the stock is owned by institutional investors.

Rogers Trading Down 1.3 %

Rogers stock opened at $60.88 on Friday. Rogers Co. has a 1-year low of $56.13 and a 1-year high of $134.07. The firm has a market cap of $1.13 billion, a P/E ratio of 43.18 and a beta of 0.51. The firm has a 50-day moving average of $80.83 and a 200-day moving average of $95.44.

Rogers (NYSE:ROG) last issued its quarterly earnings data on Wednesday, February 19th. The electronics maker reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $192.20 million for the quarter, compared to analyst estimates of $191.75 million. Rogers had a return on equity of 3.98% and a net margin of 3.14%. During the same period last year, the company earned $0.60 EPS. Research analysts forecast that Rogers Co. will post 3.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, CL King initiated coverage on shares of Rogers in a research note on Monday, March 31st. They issued a “buy” rating and a $85.00 target price on the stock.

Rogers Company Profile

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.