American International Group Inc. Trims Stake in Rogers Co. (ROG)

American International Group Inc. reduced its position in Rogers Co. (NYSE:ROG) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,252 shares of the electronics maker’s stock after selling 168 shares during the period. American International Group Inc. owned 0.08% of Rogers worth $1,412,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ROG. Oppenheimer Asset Management Inc. bought a new stake in shares of Rogers in the 4th quarter valued at about $37,000. Bank of Montreal Can raised its position in shares of Rogers by 22.9% in the 4th quarter. Bank of Montreal Can now owns 876 shares of the electronics maker’s stock valued at $87,000 after purchasing an additional 163 shares during the last quarter. Advisor Group Inc. raised its position in shares of Rogers by 9.6% in the 4th quarter. Advisor Group Inc. now owns 1,385 shares of the electronics maker’s stock valued at $137,000 after purchasing an additional 121 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Rogers in the 3rd quarter valued at approximately $167,000. Finally, Neuburgh Advisers LLC raised its position in shares of Rogers by 18.3% in the 4th quarter. Neuburgh Advisers LLC now owns 1,760 shares of the electronics maker’s stock valued at $174,000 after purchasing an additional 272 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

ROG traded down $1.28 during trading on Friday, reaching $167.22. 171,867 shares of the company’s stock were exchanged, compared to its average volume of 144,036. Rogers Co. has a 1 year low of $89.21 and a 1 year high of $173.84. The company has a current ratio of 4.53, a quick ratio of 3.29 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $3.10 billion, a PE ratio of 28.98 and a beta of 2.08.

Rogers (NYSE:ROG) last posted its quarterly earnings results on Wednesday, February 20th. The electronics maker reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.40. Rogers had a net margin of 9.97% and a return on equity of 13.15%. The company had revenue of $222.94 million during the quarter, compared to analyst estimates of $220.38 million. During the same period last year, the firm posted $1.36 EPS. Rogers’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, analysts predict that Rogers Co. will post 5.93 EPS for the current fiscal year.

ROG has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Rogers in a research report on Thursday, February 21st. B. Riley raised their price target on shares of Rogers from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 21st. Finally, ValuEngine raised shares of Rogers from a “hold” rating to a “buy” rating in a research report on Wednesday, February 27th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $163.33.

In related news, Director Ganesh Moorthy sold 1,500 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $155.00, for a total value of $232,500.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $1,162,500. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bruce D. Hoechner sold 1,200 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $170.13, for a total transaction of $204,156.00. Following the completion of the transaction, the insider now owns 66,772 shares of the company’s stock, valued at $11,359,920.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,532 shares of company stock valued at $4,181,951. Insiders own 1.09% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The correct version of this piece can be accessed at https://www.baseballdailydigest.com/news/2019/04/21/american-international-group-inc-has-1-41-million-holdings-in-rogers-co-rog.html.

About Rogers

Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. It operates in Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES), and Other segments. The ACS segment offers circuit materials and solutions for connectivity applications in wireless infrastructure, automotive, aerospace and defense, connected devices, wired infrastructure, and consumer electronics under the RO3000, RO4000, RT/duroid, TMM, AD Series, and CLTE Series names.

Recommended Story: Price-Sales Ratio

Institutional Ownership by Quarter for Rogers (NYSE:ROG)

Receive News & Ratings for Rogers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers and related companies with MarketBeat.com's FREE daily email newsletter.