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

Shares of Rogers Co. (NYSE:ROG) hit a new 52-week low during trading on Monday . The company traded as low as $65.70 and last traded at $66.78, with a volume of 8767 shares traded. The stock had previously closed at $67.58.

Analyst Ratings Changes

Separately, CL King initiated coverage on Rogers in a report on Monday. They set a “buy” rating and a $85.00 price objective on the stock.

Rogers Trading Down 1.1 %

The company’s fifty day simple moving average is $84.08 and its 200-day simple moving average is $96.67. The stock has a market cap of $1.24 billion, a P/E ratio of 47.38 and a beta of 0.56.

Rogers (NYSE:ROG) last posted its quarterly earnings results 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 firm had revenue of $192.20 million during the quarter, compared to analyst estimates of $191.75 million. Rogers had a net margin of 3.14% and a return on equity of 3.98%. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, analysts expect that Rogers Co. will post 3.57 earnings per share for the current fiscal year.

Institutional Trading of Rogers

Institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its holdings in shares of Rogers by 810.8% during the fourth quarter. Sterling Capital Management LLC now owns 592 shares of the electronics maker’s stock valued at $60,000 after acquiring an additional 527 shares during the period. Covestor Ltd lifted its holdings in Rogers by 43.7% during the 4th quarter. Covestor Ltd now owns 1,164 shares of the electronics maker’s stock valued at $118,000 after purchasing an additional 354 shares during the last quarter. Bank of Montreal Can boosted its position in Rogers by 6.2% in the fourth quarter. Bank of Montreal Can now owns 2,022 shares of the electronics maker’s stock valued at $205,000 after buying an additional 118 shares in the last quarter. Vestmark Advisory Solutions Inc. bought a new stake in Rogers during the fourth quarter worth about $222,000. Finally, FMR LLC increased its holdings in shares of Rogers by 83.1% during the third quarter. FMR LLC now owns 2,309 shares of the electronics maker’s stock worth $261,000 after buying an additional 1,048 shares in the last quarter. Institutional investors and hedge funds 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.