Lapides Asset Management Lowers stake in Rogers Corporation (ROG)

Rogers Corporation (ROG) : Lapides Asset Management reduced its stake in Rogers Corporation by 11.56% during the most recent quarter end. The investment management company now holds a total of 120,900 shares of Rogers Corporation which is valued at $6,654,336 after selling 15,800 shares in Rogers Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Rogers Corporation makes up approximately 1.09% of Lapides Asset Management’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp reduced its stake in ROG by selling 133,046 shares or 43.78% in the most recent quarter. The Hedge Fund company now holds 170,855 shares of ROG which is valued at $9,403,859. Rogers Corporation makes up approx 0.06% of Royce Associates Lp’s portfolio.Thomson Horstmann Bryant Inc reduced its stake in ROG by selling 28,153 shares or 23.28% in the most recent quarter. The Hedge Fund company now holds 92,766 shares of ROG which is valued at $6,246,862. Rogers Corporation makes up approx 0.77% of Thomson Horstmann Bryant Inc’s portfolio. Simplex Trading added ROG to its portfolio by purchasing 752 company shares during the most recent quarter which is valued at $50,595. Rogers Corporation makes up approx 0.01% of Simplex Trading’s portfolio.

Rogers Corporation opened for trading at $55.82 and hit $56.57 on the upside on Monday, eventually ending the session at $56.06, with a gain of 0.52% or 0.29 points. The heightened volatility saw the trading volume jump to 1,01,246 shares. Company has a market cap of $1,011 M.

On the company’s financial health, Rogers Corporation reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.83. The company had revenue of $157.50 million for the quarter, compared to analysts expectations of $162.16 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.77 EPS.

Rogers Corporation is a supplier of specialty materials products. The Company supplies products across a range of end markets including portable communications communications infrastructure consumer electronics mass transit automotive defense and clean technology. The Company operates through segments: Printed Circuit Materials (PCM) High Performance Foams (HPF) Power Electronics Solutions (PES) and Others. The Printed Circuit Materials segment includes printed circuit board laminate products for high frequency and high performance applications. The High Performance Foams segment includes polyurethane and silicone foam as well as solid products manufactured in roll stock sheet and molded formats. The Power Electronics Solutions segment consists of direct bond copper (DBC) ceramic substrate products and busbar power distribution products. The Other segment consists of elastomer components floats and inverter distribution activities.

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