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

Rogers Co. (NYSE:ROG)’s stock price fell 3.6% on Wednesday . The stock traded as low as $74.96 and last traded at $75.02. 101,290 shares changed hands during trading, a decline of 28% from the average session volume of 139,868 shares. The stock had previously closed at $77.79.

Rogers Price Performance

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

Rogers (NYSE:ROG) last released its quarterly earnings results on Wednesday, February 19th. The electronics maker reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $192.20 million for the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.60 earnings per share. As a group, sell-side analysts forecast that Rogers Co. will post 3.57 earnings per share for the current year.

Hedge Funds Weigh In On Rogers

A number of hedge funds and other institutional investors have recently made changes to their positions in ROG. Sterling Capital Management LLC lifted its stake in shares of Rogers by 810.8% in the fourth quarter. Sterling Capital Management LLC now owns 592 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 527 shares during the period. KBC Group NV lifted its stake in shares of Rogers by 54.5% in the third quarter. KBC Group NV now owns 669 shares of the electronics maker’s stock worth $76,000 after acquiring an additional 236 shares during the period. Covestor Ltd lifted its stake in shares of Rogers by 43.7% in the fourth quarter. Covestor Ltd now owns 1,164 shares of the electronics maker’s stock worth $118,000 after acquiring an additional 354 shares during the period. Bank of Montreal Can lifted its stake in shares of 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 acquiring an additional 118 shares during the period. Finally, Vestmark Advisory Solutions Inc. acquired a new position in Rogers in the fourth quarter valued at approximately $222,000. 96.02% of the stock is owned by institutional investors and hedge funds.

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.