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

Shares of Rogers Co. (NYSE:ROG) were down 3.6% during mid-day trading on Wednesday . The stock traded as low as $74.96 and last traded at $75.02. Approximately 101,290 shares changed hands 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 Trading Down 3.3 %

The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 51.11 and a beta of 0.56. The company has a fifty day moving average of $87.02 and a 200-day moving average of $98.01.

Rogers (NYSE:ROG) last posted its quarterly earnings data on Wednesday, February 19th. The electronics maker reported $0.46 earnings per share (EPS) 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 firm posted $0.60 EPS. As a group, equities research analysts expect that Rogers Co. will post 3.57 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Rogers by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 2,353,358 shares of the electronics maker’s stock valued at $239,125,000 after buying an additional 40,835 shares during the period. Norges Bank purchased a new stake in shares of Rogers during the 4th quarter valued at approximately $113,725,000. Neuberger Berman Group LLC raised its position in shares of Rogers by 35.6% during the 4th quarter. Neuberger Berman Group LLC now owns 972,623 shares of the electronics maker’s stock valued at $98,828,000 after buying an additional 255,423 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Rogers by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 874,139 shares of the electronics maker’s stock valued at $88,823,000 after buying an additional 50,708 shares during the period. Finally, Nuance Investments LLC raised its position in shares of Rogers by 26.6% during the 4th quarter. Nuance Investments LLC now owns 810,081 shares of the electronics maker’s stock valued at $82,312,000 after buying an additional 170,145 shares during the period. 96.02% of the stock is currently 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.