Principal Financial Group Inc. Lowers Stock Holdings in Rogers Co. (NYSE:ROG)

Principal Financial Group Inc. reduced its stake in shares of Rogers Co. (NYSE:ROG - Free Report) by 12.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,917 shares of the electronics maker's stock after selling 11,119 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of Rogers worth $9,031,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Swiss National Bank lifted its stake in Rogers by 6.1% in the first quarter. Swiss National Bank now owns 33,100 shares of the electronics maker's stock worth $3,929,000 after acquiring an additional 1,900 shares during the period. ProShare Advisors LLC lifted its stake in Rogers by 7.4% in the first quarter. ProShare Advisors LLC now owns 3,480 shares of the electronics maker's stock worth $413,000 after acquiring an additional 241 shares during the period. Vanguard Group Inc. lifted its stake in Rogers by 2.8% in the first quarter. Vanguard Group Inc. now owns 2,261,077 shares of the electronics maker's stock worth $268,367,000 after acquiring an additional 61,598 shares during the period. Edgestream Partners L.P. lifted its stake in Rogers by 433.8% in the first quarter. Edgestream Partners L.P. now owns 11,956 shares of the electronics maker's stock worth $1,419,000 after acquiring an additional 9,716 shares during the period. Finally, Covestor Ltd raised its holdings in Rogers by 629.5% in the first quarter. Covestor Ltd now owns 766 shares of the electronics maker's stock worth $91,000 after purchasing an additional 661 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Rogers

In other news, SVP Michael Reed Webb sold 416 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $108.82, for a total transaction of $45,269.12. Following the transaction, the senior vice president now owns 4,400 shares in the company, valued at $478,808. This trade represents a 8.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.35% of the stock is owned by insiders.

Rogers Price Performance

Rogers stock traded down $2.97 during trading hours on Tuesday, reaching $100.60. The stock had a trading volume of 48,068 shares, compared to its average volume of 149,833. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 37.95 and a beta of 0.51. The business's 50 day moving average price is $104.38 and its 200-day moving average price is $112.07. Rogers Co. has a 52 week low of $96.10 and a 52 week high of $138.85.

Rogers (NYSE:ROG - Get Free Report) last announced its earnings results on Thursday, October 24th. The electronics maker reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.13. Rogers had a net margin of 5.91% and a return on equity of 4.19%. The business had revenue of $210.30 million during the quarter, compared to the consensus estimate of $220.20 million. During the same period in the previous year, the company posted $1.24 earnings per share. On average, sell-side analysts forecast that Rogers Co. will post 2.71 EPS for the current fiscal 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.