Illinois Municipal Retirement Fund Has $619,000 Position in Rogers Corporation (NYSE:ROG)

Illinois Municipal Retirement Fund raised its stake in Rogers Corporation (NYSE:ROG) by 4.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 9,165 shares of the electronics maker’s stock after buying an additional 407 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Rogers were worth $619,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROG. Norges Bank acquired a new position in Rogers in the 4th quarter valued at $113,725,000. Neuberger Berman Group LLC raised its holdings in Rogers by 35.6% in the 4th 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 in the last quarter. Ameriprise Financial Inc. raised its holdings in Rogers by 66.0% in the 4th quarter. Ameriprise Financial Inc. now owns 453,144 shares of the electronics maker’s stock valued at $46,044,000 after acquiring an additional 180,086 shares in the last quarter. Nuance Investments LLC raised its holdings in Rogers by 26.6% in the 4th quarter. Nuance Investments LLC now owns 810,081 shares of the electronics maker’s stock valued at $82,312,000 after acquiring an additional 170,145 shares in the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new position in Rogers in the 4th quarter valued at $8,317,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ROG shares. CL King started coverage on Rogers in a report on Monday, March 31st. They issued a “buy” rating and a $85.00 price objective for the company. B. Riley boosted their price target on Rogers from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th.

Insiders Place Their Bets

In related news, VP Griffin Melaney Gappert sold 756 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $62.55, for a total transaction of $47,287.80. Following the sale, the vice president owned 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 legal filing with the SEC, which is available at this hyperlink. 1.35% of the stock is owned by corporate insiders.

Rogers Stock Performance

Rogers stock opened at $73.44 on Friday. Rogers Corporation has a 52 week low of $51.43 and a 52 week high of $134.07. The stock has a market capitalization of $1.36 billion, a P/E ratio of 80.70 and a beta of 0.44. The stock has a fifty day moving average of $67.18 and a 200-day moving average of $77.21.

Rogers (NYSE:ROG) last posted 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. Rogers had a return on equity of 3.52% and a net margin of 2.09%. The company had revenue of $190.50 million during the quarter, compared to analysts’ expectations of $187.50 million. On average, research analysts forecast that Rogers Corporation will post 3.57 earnings per share for the current year.

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.