Rogers (NYSE:ROG) Reaches New 12-Month Low – Here’s What Happened

Rogers Co. (NYSE:ROG)’s share price hit a new 52-week low on Monday . The stock traded as low as $56.13 and last traded at $58.81, with a volume of 504089 shares traded. The stock had previously closed at $61.71.

Analyst Upgrades and Downgrades

Separately, CL King initiated coverage on shares of Rogers in a research report on Monday, March 31st. They set a “buy” rating and a $85.00 price objective for the company.

Rogers Stock Performance

The stock has a 50-day moving average price of $80.83 and a two-hundred day moving average price of $95.31. The stock has a market capitalization of $1.13 billion, a PE ratio of 43.16 and a beta of 0.51.

Rogers (NYSE:ROG) last announced its quarterly earnings data on Wednesday, February 19th. The electronics maker reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $192.20 million for 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 previous year, the business earned $0.60 earnings per share. As a group, equities analysts predict 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 modified their holdings of the stock. Versant Capital Management Inc lifted its stake in Rogers by 698.9% in the 1st quarter. Versant Capital Management Inc now owns 703 shares of the electronics maker’s stock worth $47,000 after purchasing an additional 615 shares in the last quarter. Sterling Capital Management LLC lifted its position 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 buying an additional 527 shares in the last quarter. Covestor Ltd boosted its stake in Rogers by 43.7% during the fourth quarter. Covestor Ltd now owns 1,164 shares of the electronics maker’s stock valued at $118,000 after buying an additional 354 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in Rogers by 125.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the electronics maker’s stock valued at $152,000 after buying an additional 1,250 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Rogers by 6.2% in the 4th 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 last quarter. Institutional investors own 96.02% of the company’s stock.

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.