Raymond James Financial Inc. Invests $1.59 Million in Rogers Co. (NYSE:ROG)

Raymond James Financial Inc. bought a new position in shares of Rogers Co. (NYSE:ROG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,602 shares of the electronics maker’s stock, valued at approximately $1,585,000. Raymond James Financial Inc. owned approximately 0.08% of Rogers as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Bank of Montreal Can raised its holdings in shares of Rogers by 6.2% during the fourth quarter. Bank of Montreal Can now owns 2,022 shares of the electronics maker’s stock valued at $205,000 after acquiring an additional 118 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of Rogers by 5.7% in the fourth quarter. Inspire Investing LLC now owns 4,327 shares of the electronics maker’s stock worth $440,000 after buying an additional 232 shares in the last quarter. Procyon Advisors LLC lifted its stake in shares of Rogers by 11.9% in the fourth quarter. Procyon Advisors LLC now owns 3,108 shares of the electronics maker’s stock worth $316,000 after buying an additional 331 shares in the last quarter. Invesco Ltd. boosted its position in Rogers by 0.7% during the fourth quarter. Invesco Ltd. now owns 81,130 shares of the electronics maker’s stock worth $8,244,000 after acquiring an additional 583 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Rogers by 11.0% during the 4th quarter. Handelsbanken Fonder AB now owns 6,072 shares of the electronics maker’s stock valued at $617,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ROG. B. Riley raised their target price on Rogers from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday. CL King initiated coverage on shares of Rogers in a research report on Monday, March 31st. They set a “buy” rating and a $85.00 price target on the stock.

Rogers Stock Up 0.5 %

NYSE:ROG opened at $64.03 on Friday. The stock’s fifty day moving average is $66.63 and its two-hundred day moving average is $88.28. Rogers Co. has a 52 week low of $51.43 and a 52 week high of $134.07. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 45.41 and a beta of 0.51.

Rogers (NYSE:ROG) last issued its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $190.50 million for the quarter, compared to analysts’ expectations of $187.50 million. Rogers had a net margin of 3.14% and a return on equity of 3.98%. On average, sell-side analysts expect that Rogers Co. will post 3.57 EPS for the current fiscal year.

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.