Nuance Investments LLC Lowers Stake in Rogers Corporation (NYSE:ROG)

Key Points

• Nuance Investments LLC reduced its stake in Rogers Corporation by 23.8%, holding 617,347 shares after selling 192,734 shares in the first quarter, which now accounts for 2.7% of its portfolio.
• Rogers Corporation reported earnings of $0.34 per share, missing the consensus estimate of $0.50, while its revenue surpassed expectations at $202.80 million.
• Numerous investors, including GAMMA Investing LLC and Signaturefd LLC, significantly increased their holdings in Rogers by rates exceeding 240% during the same quarter.

Nuance Investments LLC trimmed its position in Rogers Corporation (NYSE:ROG - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 617,347 shares of the electronics maker's stock after selling 192,734 shares during the quarter. Rogers accounts for approximately 2.7% of Nuance Investments LLC's holdings, making the stock its 15th biggest holding. Nuance Investments LLC owned about 3.33% of Rogers worth $41,689,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ROG. Ameriprise Financial Inc. grew its position in shares of Rogers by 66.0% in the 4th quarter. Ameriprise Financial Inc. now owns 453,144 shares of the electronics maker's stock worth $46,044,000 after buying an additional 180,086 shares during the period. Cramer Rosenthal Mcglynn LLC grew its position in Rogers by 92.8% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 145,278 shares of the electronics maker's stock valued at $14,762,000 after purchasing an additional 69,941 shares during the last quarter. Bank of America Corp DE grew its position in Rogers by 26.6% during the 4th quarter. Bank of America Corp DE now owns 321,337 shares of the electronics maker's stock valued at $32,651,000 after purchasing an additional 67,454 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Rogers by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 874,139 shares of the electronics maker's stock valued at $88,823,000 after purchasing an additional 50,708 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Rogers during the 1st quarter valued at about $3,379,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley raised their price target on shares of Rogers from $80.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, April 30th.

Rogers Stock Performance

Shares of Rogers stock traded up $0.27 on Friday, hitting $76.79. 209,141 shares of the company traded hands, compared to its average volume of 343,729. The stock has a market capitalization of $1.39 billion, a P/E ratio of -21.75 and a beta of 0.46. Rogers Corporation has a 52 week low of $51.43 and a 52 week high of $114.05. The business has a 50-day simple moving average of $69.60 and a 200 day simple moving average of $70.85.

Rogers (NYSE:ROG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The electronics maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.16). The company had revenue of $202.80 million for the quarter, compared to the consensus estimate of $198.75 million. Rogers had a negative net margin of 8.14% and a positive return on equity of 3.04%. Research analysts expect that Rogers Corporation will post 3.57 earnings per share for the current year.

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.