Norges Bank Acquires New Shares in Rogers Co. (NYSE:ROG)

Norges Bank bought a new position in Rogers Co. (NYSE:ROG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,119,229 shares of the electronics maker’s stock, valued at approximately $113,725,000. Norges Bank owned 6.00% of Rogers as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ROG. Nuance Investments LLC boosted its position in shares of Rogers by 26.6% during 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 during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Rogers during the 3rd quarter valued at $17,517,000. Vanguard Group Inc. lifted its holdings in shares of Rogers by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 2,353,358 shares of the electronics maker’s stock worth $239,125,000 after acquiring an additional 40,835 shares during the last quarter. Weiss Asset Management LP purchased a new position in Rogers in the third quarter worth $3,381,000. Finally, Invenomic Capital Management LP bought a new position in Rogers in the third quarter valued at $3,057,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Rogers Stock Performance

Shares of ROG stock opened at $67.16 on Wednesday. The company has a market capitalization of $1.24 billion, a P/E ratio of 47.63 and a beta of 0.56. Rogers Co. has a fifty-two week low of $65.70 and a fifty-two week high of $134.07. The stock has a 50 day moving average price of $82.90 and a two-hundred day moving average price of $96.17.

Rogers (NYSE:ROG) last issued its quarterly earnings data on Wednesday, February 19th. The electronics maker reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $192.20 million during the quarter, compared to the consensus estimate of $191.75 million. Rogers had a net margin of 3.14% and a return on equity of 3.98%. During the same period in the prior year, the firm posted $0.60 earnings per share. As a group, equities analysts predict that Rogers Co. will post 3.57 earnings per share for the current year.

Analyst Ratings Changes

Separately, CL King initiated coverage on Rogers in a report on Monday. They set a “buy” rating and a $85.00 price objective on the stock.

Rogers 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.