Rogers (NYSE:ROG) Hits New 52-Week Low – Here’s Why

Rogers Co. (NYSE:ROG)’s stock price hit a new 52-week low on Friday . The stock traded as low as $95.90 and last traded at $95.95, with a volume of 5033 shares. The stock had previously closed at $98.43.

Rogers Stock Down 3.0 %

The company has a market cap of $1.78 billion, a PE ratio of 35.64 and a beta of 0.53. The business’s fifty day moving average is $103.79 and its 200-day moving average is $107.78.

Rogers (NYSE:ROG) last posted its quarterly earnings data on Thursday, October 24th. The electronics maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.85 by $0.13. Rogers had a return on equity of 4.19% and a net margin of 5.91%. The firm had revenue of $210.30 million during the quarter, compared to analyst estimates of $220.20 million. During the same period in the prior year, the business posted $1.24 EPS. Analysts forecast that Rogers Co. will post 2.71 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Michael Reed Webb sold 416 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 4,400 shares in the company, valued at approximately $478,808. This represents a 8.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.35% of the company’s stock.

Institutional Trading of Rogers

Several hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System lifted its position in shares of Rogers by 2.1% in the second quarter. Arizona State Retirement System now owns 4,700 shares of the electronics maker’s stock worth $567,000 after buying an additional 95 shares in the last quarter. Wrapmanager Inc. boosted its holdings in shares of Rogers by 5.6% in the 2nd quarter. Wrapmanager Inc. now owns 2,732 shares of the electronics maker’s stock worth $330,000 after purchasing an additional 145 shares during the period. Diversified Trust Co raised its holdings in Rogers by 5.9% during the 3rd quarter. Diversified Trust Co now owns 2,842 shares of the electronics maker’s stock valued at $321,000 after buying an additional 158 shares during the period. Redwood Investment Management LLC lifted its position in Rogers by 4.9% in the third quarter. Redwood Investment Management LLC now owns 4,618 shares of the electronics maker’s stock worth $509,000 after buying an additional 216 shares during the last quarter. Finally, KBC Group NV raised 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 valued at $76,000 after acquiring an additional 236 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

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.