Rogers (NYSE:ROG) Shares Up 3.6% – Here’s What Happened

Rogers Co. (NYSE:ROG)’s share price was up 3.6% on Friday . The company traded as high as $110.00 and last traded at $107.85. Approximately 32,022 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 147,399 shares. The stock had previously closed at $104.06.

Rogers Price Performance

The stock has a market capitalization of $1.94 billion, a PE ratio of 38.73 and a beta of 0.52. The company’s 50 day moving average price is $104.12 and its two-hundred day moving average price is $109.40.

Rogers (NYSE:ROG) last issued its quarterly earnings results on Thursday, October 24th. The electronics maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.13. The firm had revenue of $210.30 million for the quarter, compared to analysts’ expectations of $220.20 million. Rogers had a return on equity of 4.19% and a net margin of 5.91%. During the same quarter in the previous year, the firm posted $1.24 EPS. Analysts forecast that Rogers Co. will post 2.71 earnings per share for the current year.

Insider Buying and Selling at Rogers

In other news, SVP Michael Reed Webb sold 416 shares of Rogers stock in a transaction that occurred 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 sale, the senior vice president now owns 4,400 shares in the company, valued at $478,808. The trade was a 8.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rogers

Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James & Associates acquired a new position in shares of Rogers in the second quarter worth approximately $3,720,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Rogers by 24.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,810 shares of the electronics maker’s stock worth $460,000 after acquiring an additional 754 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Rogers by 4.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 82,000 shares of the electronics maker’s stock valued at $9,890,000 after purchasing an additional 3,529 shares during the last quarter. Rhumbline Advisers lifted its position in Rogers by 8.2% in the second quarter. Rhumbline Advisers now owns 56,030 shares of the electronics maker’s stock valued at $6,758,000 after purchasing an additional 4,228 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Rogers by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 4,700 shares of the electronics maker’s stock worth $567,000 after purchasing an additional 95 shares in the last quarter. 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.