Norges Bank Purchases Shares of 1,119,229 Rogers Co. (NYSE:ROG)

Norges Bank acquired a new stake in Rogers Co. (NYSE:ROG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,119,229 shares of the electronics maker's stock, valued at approximately $113,725,000. Norges Bank owned 6.00% of Rogers at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Nuance Investments LLC raised its holdings in shares of 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 buying an additional 170,145 shares during the period. Oddo BHF Asset Management Sas acquired a new position in Rogers in the 3rd quarter valued at about $17,517,000. Vanguard Group Inc. increased its stake in Rogers by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 2,353,358 shares of the electronics maker's stock worth $239,125,000 after purchasing an additional 40,835 shares during the period. Weiss Asset Management LP acquired a new stake in shares of Rogers during the third quarter worth about $3,381,000. Finally, Invenomic Capital Management LP purchased a new position in shares of Rogers in the third quarter valued at approximately $3,057,000. Hedge funds and other institutional investors own 96.02% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, CL King assumed coverage on shares of Rogers in a report on Monday, March 31st. They set a "buy" rating and a $85.00 target price on the stock.

Rogers Trading Down 1.3 %

ROG traded down $0.83 on Friday, hitting $60.88. 504,089 shares of the company were exchanged, compared to its average volume of 156,382. The firm has a 50-day moving average price of $80.83 and a two-hundred day moving average price of $95.31. Rogers Co. has a twelve month low of $56.13 and a twelve month high of $134.07. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 43.18 and a beta of 0.51.

Rogers (NYSE:ROG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The electronics maker reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. Rogers had a return on equity of 3.98% and a net margin of 3.14%. The business had revenue of $192.20 million during the quarter, compared to the consensus estimate of $191.75 million. During the same period in the previous year, the company posted $0.60 earnings per share. Equities analysts expect that Rogers Co. will post 3.57 EPS 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.