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

Rogers Co. (NYSE:ROG) shares dropped 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 Stock Performance

The business has a fifty day moving average of $87.97 and a 200-day moving average of $98.34. The company has a market capitalization of $1.40 billion, a P/E ratio of 53.55 and a beta of 0.56.

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

Hedge Funds Weigh In On Rogers

A number of hedge funds have recently bought and sold shares of the company. Bank of Montreal Can increased its position in Rogers by 6.2% in the fourth quarter. Bank of Montreal Can now owns 2,022 shares of the electronics maker’s stock worth $205,000 after buying an additional 118 shares during the last quarter. Redwood Investment Management LLC increased its holdings in Rogers by 4.9% in the 3rd quarter. Redwood Investment Management LLC now owns 4,618 shares of the electronics maker’s stock worth $509,000 after acquiring an additional 216 shares during the last quarter. Inspire Investing LLC raised its stake in Rogers by 5.7% in the 4th quarter. Inspire Investing LLC now owns 4,327 shares of the electronics maker’s stock valued at $440,000 after acquiring an additional 232 shares during the period. KBC Group NV lifted its holdings in Rogers by 54.5% during the third quarter. KBC Group NV now owns 669 shares of the electronics maker’s stock valued at $76,000 after purchasing an additional 236 shares during the last quarter. Finally, Procyon Advisors LLC boosted its position in Rogers by 11.9% during the fourth quarter. Procyon Advisors LLC now owns 3,108 shares of the electronics maker’s stock worth $316,000 after purchasing an additional 331 shares during the period. 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.