Rogers (NYSE:ROG) Shares Up 3.6% – Here’s What Happened

Rogers Co. (NYSE:ROG) rose 3.6% on Friday . The stock traded as high as $110.00 and last traded at $107.85. Approximately 32,022 shares traded hands during trading, a decline of 78% from the average daily volume of 147,399 shares. The stock had previously closed at $104.06.

Rogers Stock Performance

The company has a market cap of $1.95 billion, a PE ratio of 39.00 and a beta of 0.52. The company has a fifty day moving average of $104.12 and a two-hundred day moving average of $109.32.

Rogers (NYSE:ROG) last posted its quarterly earnings data on Thursday, October 24th. The electronics maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.13. Rogers had a net margin of 5.91% and a return on equity of 4.19%. The business had revenue of $210.30 million for the quarter, compared to analysts’ expectations of $220.20 million. During the same quarter in the previous year, the business posted $1.24 earnings per share. On average, equities analysts forecast that Rogers Co. will post 2.71 EPS for the current year.

Insider Activity at Rogers

In other news, SVP Michael Reed Webb sold 416 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $108.82, for a total transaction of $45,269.12. Following the transaction, the senior vice president now directly owns 4,400 shares of the company’s stock, valued at approximately $478,808. This trade represents a 8.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by company insiders.

Institutional Trading of Rogers

Hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates purchased a new stake in Rogers during the second quarter worth $3,720,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Rogers by 24.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,810 shares of the electronics maker’s stock worth $460,000 after purchasing an additional 754 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Rogers by 8.2% during the 2nd quarter. Rhumbline Advisers now owns 56,030 shares of the electronics maker’s stock worth $6,758,000 after purchasing an additional 4,228 shares during the last quarter. Arizona State Retirement System boosted its position in Rogers by 2.1% during the second quarter. Arizona State Retirement System now owns 4,700 shares of the electronics maker’s stock valued at $567,000 after purchasing an additional 95 shares in the last quarter. Finally, Asset Dedication LLC bought a new stake in Rogers during the second quarter valued at about $25,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

About Rogers

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.