Hsbc Holdings PLC Sells 175 Shares of Rogers Co. (NYSE:ROG)

Hsbc Holdings PLC trimmed its stake in Rogers Co. (NYSE:ROG) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,645 shares of the electronics maker’s stock after selling 175 shares during the period. Hsbc Holdings PLC’s holdings in Rogers were worth $270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Rogers by 1.8% in the 4th 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 last quarter. Norges Bank bought a new position in Rogers in the fourth quarter valued at $113,725,000. Neuberger Berman Group LLC increased its stake in Rogers by 35.6% in the fourth quarter. Neuberger Berman Group LLC now owns 972,623 shares of the electronics maker’s stock valued at $98,828,000 after acquiring an additional 255,423 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Rogers by 6.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 874,139 shares of the electronics maker’s stock valued at $88,823,000 after purchasing an additional 50,708 shares in the last quarter. Finally, Nuance Investments LLC lifted its stake in Rogers by 26.6% during the fourth quarter. Nuance Investments LLC now owns 810,081 shares of the electronics maker’s stock worth $82,312,000 after purchasing an additional 170,145 shares during the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Rogers Trading Up 0.9 %

Shares of NYSE:ROG opened at $65.99 on Friday. The stock has a market capitalization of $1.22 billion, a P/E ratio of 46.80 and a beta of 0.41. The stock’s 50-day moving average price is $65.13 and its 200-day moving average price is $86.91. Rogers Co. has a 12-month low of $51.43 and a 12-month high of $134.07.

Rogers (NYSE:ROG) last announced its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 3.98% and a net margin of 3.14%. As a group, research analysts predict that Rogers Co. will post 3.57 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ROG shares. CL King initiated coverage on Rogers in a research report on Monday, March 31st. They set a “buy” rating and a $85.00 price objective on the stock. B. Riley lifted their price target on shares of Rogers from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th.

Insider Buying and Selling at Rogers

In related news, VP Griffin Melaney Gappert sold 756 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $62.55, for a total transaction of $47,287.80. Following the transaction, the vice president now owns 4,484 shares in the company, valued at $280,474.20. The trade was a 14.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.35% of the company’s 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.