Concord Wealth Partners Invests $34,000 in Rogers Co. (NYSE:ROG)

Posted by on Apr 15th, 2023

Concord Wealth Partners purchased a new stake in shares of Rogers Co. (NYSE:ROG – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 285 shares of the electronics maker’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wipfli Financial Advisors LLC bought a new position in Rogers in the 3rd quarter worth $32,000. Silvant Capital Management LLC purchased a new stake in Rogers in the third quarter worth about $76,000. Quadrant Capital Group LLC lifted its holdings in Rogers by 147.8% in the third quarter. Quadrant Capital Group LLC now owns 342 shares of the electronics maker’s stock worth $83,000 after buying an additional 204 shares during the period. Covestor Ltd boosted its position in Rogers by 5,866.7% during the 1st quarter. Covestor Ltd now owns 358 shares of the electronics maker’s stock valued at $97,000 after acquiring an additional 352 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Rogers by 9.7% during the 3rd quarter. Van ECK Associates Corp now owns 518 shares of the electronics maker’s stock worth $125,000 after acquiring an additional 46 shares during the period. Institutional investors own 95.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com began coverage on Rogers in a research note on Thursday, March 16th. They issued a “sell” rating for the company. B. Riley boosted their target price on shares of Rogers from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, March 31st. CJS Securities assumed coverage on shares of Rogers in a research note on Tuesday, March 14th. They issued an “outperform” rating and a $185.00 price target for the company. Finally, TheStreet raised shares of Rogers from a “d+” rating to a “c-” rating in a research note on Tuesday, February 14th.

Rogers Trading Down 0.5 %

Rogers stock opened at $159.61 on Friday. Rogers Co. has a 12 month low of $98.45 and a 12 month high of $274.51. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 25.87 and a beta of 0.97. The business’s fifty day simple moving average is $153.86 and its two-hundred day simple moving average is $152.25. The company has a current ratio of 4.63, a quick ratio of 3.35 and a debt-to-equity ratio of 0.18.

Rogers (NYSE:ROG – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The electronics maker reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. The company had revenue of $223.70 million for the quarter, compared to analysts’ expectations of $235.40 million. Rogers had a net margin of 12.01% and a return on equity of 8.29%. As a group, equities analysts predict that Rogers Co. will post 4.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Carol R. Jensen sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $154.28, for a total value of $154,280.00. Following the completion of the transaction, the director now directly owns 12,538 shares in the company, valued at approximately $1,934,362.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Rogers Profile

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Rogers Corp. engages in the design, development, manufacture, and sale of engineered materials and components for mission critical applications. It operates through the following segments: Advanced Electronics Solutions (AES) and Elastomeric Material Solutions (EMS), and Other. The AES segment offers manufactures and sells circuit materials, ceramic substrate materials, busbars and cooling solutions for applications in electric and hybrid electric vehicles, wireless infrastructure, automotive, telematics and thermal solutions, aerospace and defense, mass transit, clean energy, connected devices and wired infrastructures.

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Institutional Ownership by Quarter for Rogers (NYSE:ROG)

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