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

Rogers Co. (NYSE:ROG) shares hit a new 52-week low on Thursday . The company traded as low as $84.53 and last traded at $85.01, with a volume of 112395 shares trading hands. The stock had previously closed at $85.68.

Rogers Price Performance

The business’s 50 day moving average is $94.98 and its two-hundred day moving average is $101.25. The firm has a market capitalization of $1.59 billion, a PE ratio of 60.29 and a beta of 0.51.

Rogers (NYSE:ROG) last posted its quarterly earnings results on Wednesday, February 19th. The electronics maker reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $192.20 million for the quarter, compared to the consensus estimate of $191.75 million. Rogers had a net margin of 3.14% and a return on equity of 3.98%. During the same period last year, the firm posted $0.60 earnings per share. Analysts expect that Rogers Co. will post 3.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ROG. Norges Bank purchased a new position in shares of Rogers during the fourth quarter worth approximately $113,725,000. Nuance Investments LLC grew its holdings in shares of Rogers by 70.2% in the third quarter. Nuance Investments LLC now owns 639,936 shares of the electronics maker’s stock worth $72,319,000 after purchasing an additional 263,898 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Rogers by 35.6% in the fourth quarter. Neuberger Berman Group LLC now owns 972,623 shares of the electronics maker’s stock worth $98,828,000 after purchasing an additional 255,423 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Rogers by 66.0% in the fourth quarter. Ameriprise Financial Inc. now owns 453,144 shares of the electronics maker’s stock worth $46,044,000 after purchasing an additional 180,086 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Rogers in the third quarter worth approximately $17,517,000. 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.