Rogers (NYSE:ROG) Stock Price Down 3.6% – Here’s What Happened

Rogers Co. (NYSE:ROG) was down 3.6% during mid-day trading on Wednesday . The company traded as low as $74.96 and last traded at $75.02. Approximately 101,290 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 139,868 shares. The stock had previously closed at $77.79.

Rogers Price Performance

The company’s 50 day simple moving average is $87.02 and its 200 day simple moving average is $98.01. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 51.11 and a beta of 0.56.

Rogers (NYSE:ROG) last issued its earnings results on Wednesday, February 19th. The electronics maker reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Rogers had a net margin of 3.14% and a return on equity of 3.98%. The firm had revenue of $192.20 million during the quarter, compared to the consensus estimate of $191.75 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, analysts forecast that Rogers Co. will post 3.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ROG. Norges Bank purchased a new position in Rogers in the fourth quarter valued at about $113,725,000. Neuberger Berman Group LLC boosted its position in Rogers by 35.6% during the fourth quarter. Neuberger Berman Group LLC now owns 972,623 shares of the electronics maker’s stock worth $98,828,000 after acquiring an additional 255,423 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Rogers by 66.0% during the fourth quarter. Ameriprise Financial Inc. now owns 453,144 shares of the electronics maker’s stock worth $46,044,000 after acquiring an additional 180,086 shares during the last quarter. Nuance Investments LLC boosted its position in Rogers by 26.6% during the fourth quarter. Nuance Investments LLC now owns 810,081 shares of the electronics maker’s stock worth $82,312,000 after acquiring an additional 170,145 shares during the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in Rogers during the third quarter worth approximately $17,517,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Rogers Company Profile

Rogers Corporation engages in the design, development, manufacture, and sale of engineered materials and components worldwide. It operates through Advanced Electronics Solutions (AES), Elastomeric Material Solutions (EMS), and Other segments. The AES segment offers circuit materials, ceramic substrate materials, busbars, and cooling solutions for applications in electric and hybrid electric vehicles (EV/HEV), wireless infrastructure, automotive, renewable energy, aerospace and defense, mass transit, industrial, connected devices, and wired infrastructure.