Activist investor Starboard Value has disclosed acquiring a stake of more than 9% in Rogers Corporation, signaling its intent to advocate for changes to enhance shareholder value. This move follows previous engagement by Starboard with the company in 2023, which resulted in a settlement regarding board composition and other corporate matters.
Rogers Corporation, an engineered materials manufacturer, has a market value of approximately $1.28 billion. Starboard's renewed interest comes amidst a period where Rogers' stock has experienced a decline, attributed in part to slowing demand in key markets such as electric vehicles.
The activist investor's involvement typically indicates a push for strategic and operational improvements, which could include initiatives to optimize the company's cost structure, enhance profitability, or explore other value-creation opportunities. This development places increased scrutiny on Rogers' management and board to address performance and strategic direction.
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