Marshall Wace LLP, a prominent investment management firm, has recently disclosed that it has increased its stake in Rogers Co. by more than twice as much during the fourth quarter of 2016, according to the company’s latest Securities & Exchange Commission (SEC) filing. The data in the filing shows that Marshall Wace increased its position in Rogers Co. by an impressive 274.8%, and now owns approximately1.36% of the electronics manufacturer’s shares worth roughly $30,626,000.
For those unfamiliar with Rogers Co., it is a leading designer and manufacturer of engineered materials and components based in America with global operations. The company operates via three distinct business segments – Advanced Electronics Solutions (AES), Elastomeric Material Solutions (EMS), and Other segments.
The AES segment focuses on circuit materials, ceramic substrate materials, busbars and cooling solutions to address applications predominantly within electric and hybrid electric vehicles (EV/HEV), wireless infrastructure, automotive telematics and thermal solutions, aerospace and defense markets along with clean energy production sector for connected devices demanded by wired infrastructure.
Several high-profile institutions have shared their opinion on this stock over recent weeks. CJS Securities initiated coverage on shares of Rogers by rating them “outperform” with a $185 price objective in their research reports released on Tuesday, March 14th. In addition to this StockNews.com raised their previous “sell” rating to a “hold” rating back on Monday June 5th thus hinting at some level of potential growth within the company.
B. Riley also raised their target price on Rogers from $200 to $205 whilst still maintaining its buy rating asset as part of a thoroughly conducted report released only last month and finally; TheStreet chose to upgrade Roger’s ranking from “d+” to “c-” back on February 14th earlier this year after analyzing its performance history.
While Marshall Wace has aggressively raised its holdings in Rogers Co. and recent analyst reports show strong faith in the stock, only time will tell whether this proves to be a wise investment decision on their part, given that the technology industry is often prone to rapid developments and changes. Nonetheless, it is certainly an area to keep an eye on for investors looking for growth opportunities over the long term.
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Rogers Corporation Sees Portfolio Investment Changes and Strong Growth Prospects in Innovative Solutions Segment
Rogers Corporation, a global leader in the design and development of engineered materials and components, has been seeing some notable changes in portfolio investment. According to reports released by financial institutions, hedge funds and institutional investors have been increasing or decreasing their stakes in the company.
One such investor is Eaton Vance Management, which raised its stake in shares of Rogers by 1.0% in the first quarter. The fund now owns 3,825 shares of the electronics maker’s stock worth $1,039,000 after purchasing an additional 39 shares during the last quarter.
Similarly, Mackenzie Financial Corp lifted its stake in Rogers by 4.9% during the first quarter and now owns 1,064 shares valued at $289,000 after acquiring an additional 50 shares during the period.
The Great West Life Assurance Co. Can also increased their stake in Rogers by 0.4% during Q1 and currently holds 16,187 shares of the electronics maker’s stock valued at $4,512,000 after acquiring an additional 61 shares during the period.
Evergreen Capital Management LLC boosted its holdings in Rogers by 14.0% during Q1 as it now owns 937 shares worth $255,000 after acquiring an additional 115 shares during the last quarter while Amalgamated Bank grew its stake in Rogers by another 1.3% bringing their total shareholding to around $2 million.
Corporate insiders bought a combined total of over $48 thousand worth of ROG stocks earlier this year while CFO Ramakumar Mayampurath sold about $193 thousand worth of stocks from his personal holdings.
Moving forward to company performance for this year so far; NYSE ROG opened on Tuesday at $156.66 with a current ratio of 4.80 and quick ratio of 3.41 while sustaining a debt-to-equity ratio of just about .16; low when compared to market average values. Rogers has a 12-month low of $98.45 and a 12-month-high of $271.12 with current performance indicated by a market cap of $2.92 billion, a price-to-earnings ratio of 30.66 and a beta score of .96.
Recently, the electronics maker reported quarterly earnings data showing ROG had a net margin of 9.98% and returned an EPS value well above consensus estimates at $0.87 beating projections by $0.17 while also exceeding projected revenue estimates for Q1 at $243.85 million over the estimated $235 million.
As for further growth prospects in Rogers’ innovative solutions segment which specializes in making busbars, ceramics and circuit materials – these are expected to be strongly positioned to satisfy demand across all tech sectors including aerospace and defense mass transit, telematics and EV/HEV manufacturing as well as clean energy solutions among others; this could encourage investors who are looking for long term value from the company’s stock portfolio holdings especially into the latter part of this year or beyond.