Norges Bank Makes New $113.73 Million Investment in Rogers Co. (NYSE:ROG)

Norges Bank purchased a new position in Rogers Co. (NYSE:ROG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,119,229 shares of the electronics maker’s stock, valued at approximately $113,725,000. Norges Bank owned 0.06% of Rogers as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ROG. Charles Schwab Investment Management Inc. grew its stake in shares of Rogers by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 229,603 shares of the electronics maker’s stock worth $25,947,000 after buying an additional 11,876 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Rogers in the 3rd quarter worth about $720,000. FMR LLC boosted its stake in Rogers by 83.1% in the 3rd quarter. FMR LLC now owns 2,309 shares of the electronics maker’s stock worth $261,000 after purchasing an additional 1,048 shares in the last quarter. Edgestream Partners L.P. lifted its stake in shares of Rogers by 321.4% in the third quarter. Edgestream Partners L.P. now owns 10,972 shares of the electronics maker’s stock worth $1,240,000 after buying an additional 8,368 shares in the last quarter. Finally, Invenomic Capital Management LP purchased a new stake in shares of Rogers during the third quarter valued at approximately $3,057,000. Institutional investors own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, CL King began coverage on shares of Rogers in a report on Monday. They issued a “buy” rating and a $85.00 price objective for the company.

Rogers Price Performance

NYSE:ROG opened at $67.16 on Wednesday. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 47.63 and a beta of 0.56. The business has a fifty day moving average price of $82.90 and a 200-day moving average price of $96.17. Rogers Co. has a one year low of $65.70 and a one year high of $134.07.

Rogers (NYSE:ROG) last released its earnings results on Wednesday, February 19th. The electronics maker reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $192.20 million during the quarter, compared to analyst estimates 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 EPS. On average, equities research analysts expect that Rogers Co. will post 3.57 earnings per share 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.