5 Stocks to Buy According to Carlson Capital

4. Rogers Corporation (NYSE:ROG)

Carlson Capital’s Stake Value: $42,114,000
Percentage of Carlson Capital’s Portfolio: 2.88%
Number of Hedge Fund Holders: 24

Rogers Corporation (NYSE:ROG) creates, develops, and manufactures engineered materials and components for sale to original equipment manufacturers and component suppliers. Carlson Capital started investing in Rogers Corporation (NYSE:ROG) during Q4 of 2021, purchasing shares worth $19.11 million. At the end of Q1 2022, the hedge fund owned 155,000 Rogers Corporation (NYSE:ROG) shares, valued at over $42.11 million. The stake in the company made up 2.88% of the hedge fund’s portfolio value.

On January 25, Rogers Corporation (NYSE:ROG) reported that its shareholders had accepted its previously announced purchase by DuPont de Nemours, Inc. (NYSE:DD). DuPont de Nemours, Inc. (NYSE:DD) was downgraded to ‘Hold’ from ‘Buy’ on June 16 by Jefferies analyst Laurence Alexander, who also reduced his price objective to $60 from $92. The analyst downgraded five chemical companies, claiming that the group’s risk profile no longer seemed attractive in light of rising interest rates.

According to Insider Monkey’s Q1 data, 24 hedge funds were bullish on Rogers Corporation (NYSE:ROG), compared to 28 funds in the preceding quarter. Alec Litowitz and Ross Laser’s Magnetar Capital was the largest shareholder of Rogers Corporation (NYSE:ROG), with 537,111 shares worth about $145.93 million.