At the moment, there are dozens of methods market participants can use to track Mr. Market. A pair of the most underrated are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the top investment managers can outclass their index-focused peers by a superb amount (see just how much).
Equally as useful, positive insider trading sentiment is a second way to look at the world of equities. Obviously, there are many incentives for a corporate insider to downsize shares of his or her company, but just one, very obvious reason why they would buy. Many academic studies have demonstrated the market-beating potential of this tactic if piggybackers know where to look (learn more here).
Now that that’s out of the way, it’s important to examine the newest info for Rogers Corporation (NYSE:ROG).
Hedge fund activity in Rogers Corporation (NYSE:ROG)
At the end of the second quarter, a total of 12 of the hedge funds we track were long in this stock, a change of -20% from the previous quarter. With hedge funds’ capital changing hands, there exists a select group of noteworthy hedge fund managers who were upping their stakes significantly.
Out of the hedge funds we follow, Daruma Asset Management, managed by Mariko Gordon, holds the most valuable position in Rogers Corporation (NYSE:ROG). Daruma Asset Management has a $52.8 million position in the stock, comprising 2.6% of its 13F portfolio. Coming in second is Chuck Royce of Royce & Associates, with a $32.6 million position; 0.1% of its 13F portfolio is allocated to the company. Other peers that are bullish include Michael Doheny’s Freshford Capital Management, Ken Grossman and Glen Schneider’s SG Capital Management and Joel Greenblatt’s Gotham Asset Management.
Due to the fact Rogers Corporation (NYSE:ROG) has experienced bearish sentiment from the smart money’s best and brightest, it’s safe to say that there is a sect of money managers who sold off their full holdings at the end of the second quarter. It’s worth mentioning that Richard S. Meisenberg’s ACK Asset Management sold off the biggest position of the “upper crust” of funds we key on, comprising about $7.7 million in stock. Carl Tiedemann and Michael Tiedemann’s fund, TIG Advisors, also dumped its stock, about $2.2 million worth. These transactions are important to note, as total hedge fund interest was cut by 3 funds at the end of the second quarter.
How are insiders trading Rogers Corporation (NYSE:ROG)?
Insider buying is most useful when the primary stock in question has seen transactions within the past six months. Over the latest 180-day time period, Rogers Corporation (NYSE:ROG) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also examine the relationship between both of these indicators in other stocks similar to Rogers Corporation (NYSE:ROG). These stocks are AEP Industries (NASDAQ:AEPI), Cooper Tire & Rubber Company (NYSE:CTB), Myers Industries, Inc. (NYSE:MYE), Titan International Inc (NYSE:TWI), and Tredegar Corporation (NYSE:TG). All of these stocks are in the rubber & plastics industry and their market caps resemble ROG’s market cap.