Rogers (NYSE:ROG) Shares Down 6% – Here’s Why

Rogers Co. (NYSE:ROG)’s share price dropped 6% during trading on Monday . The stock traded as low as $87.45 and last traded at $87.50. Approximately 95,457 shares traded hands during trading, a decline of 14% from the average daily volume of 110,840 shares. The stock had previously closed at $93.05.

Rogers Trading Down 5.1 %

The firm has a fifty day moving average of $101.03 and a 200 day moving average of $104.90. The company has a market capitalization of $1.65 billion, a P/E ratio of 32.94 and a beta of 0.51.

Insider Transactions at Rogers

In other news, SVP Michael Reed Webb sold 416 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $108.82, for a total value of $45,269.12. Following the transaction, the senior vice president now directly owns 4,400 shares in the company, valued at $478,808. This trade represents a 8.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Rogers

A number of hedge funds have recently bought and sold shares of ROG. Nuance Investments LLC grew its stake in shares of Rogers by 70.2% during the 3rd quarter. Nuance Investments LLC now owns 639,936 shares of the electronics maker’s stock valued at $72,319,000 after purchasing an additional 263,898 shares during the period. Oddo BHF Asset Management Sas bought a new stake in Rogers during the third quarter valued at approximately $17,517,000. BNP Paribas Financial Markets increased its holdings in Rogers by 948.5% during the third quarter. BNP Paribas Financial Markets now owns 126,353 shares of the electronics maker’s stock valued at $14,279,000 after buying an additional 114,302 shares during the last quarter. Millennium Management LLC increased its holdings in Rogers by 289.3% during the second quarter. Millennium Management LLC now owns 97,224 shares of the electronics maker’s stock valued at $11,726,000 after buying an additional 72,252 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in Rogers in the third quarter worth approximately $3,381,000. Hedge funds and other 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.