Nuance Investments LLC Sells 192,734 Shares of 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 stake in shares of Rogers Corporation (NYSE:ROG - Free Report) by 23.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 617,347 shares of the electronics maker's stock after selling 192,734 shares during the quarter. Rogers comprises approximately 2.7% of Nuance Investments LLC's investment portfolio, making the stock its 15th biggest position. Nuance Investments LLC owned about 3.33% of Rogers worth $41,689,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its position in Rogers by 22.9% during the first quarter. Sequoia Financial Advisors LLC now owns 3,777 shares of the electronics maker's stock worth $255,000 after purchasing an additional 704 shares during the period. Illinois Municipal Retirement Fund boosted its position in Rogers by 4.6% during the first quarter. Illinois Municipal Retirement Fund now owns 9,165 shares of the electronics maker's stock worth $619,000 after purchasing an additional 407 shares during the period. Principal Financial Group Inc. boosted its position in Rogers by 2.7% during the first quarter. Principal Financial Group Inc. now owns 84,683 shares of the electronics maker's stock worth $5,719,000 after purchasing an additional 2,228 shares during the period. GSA Capital Partners LLP boosted its position in Rogers by 227.3% during the first quarter. GSA Capital Partners LLP now owns 24,607 shares of the electronics maker's stock worth $1,662,000 after purchasing an additional 17,089 shares during the period. Finally, KBC Group NV boosted its position in Rogers by 67.3% during the first quarter. KBC Group NV now owns 1,119 shares of the electronics maker's stock worth $76,000 after purchasing an additional 450 shares during the period. 96.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Rogers Stock Up 4.0%

Shares of Rogers stock traded up $3.02 during trading on Wednesday, reaching $77.87. The company's stock had a trading volume of 238,630 shares, compared to its average volume of 336,622. The business's 50-day moving average price is $69.20 and its 200-day moving average price is $71.13. The firm has a market cap of $1.41 billion, a PE ratio of -22.06 and a beta of 0.46. Rogers Corporation has a 52 week low of $51.43 and a 52 week high of $114.05.

Rogers (NYSE:ROG - Get Free Report) last announced its earnings results on Thursday, July 31st. The electronics maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.16). The business had revenue of $202.80 million during 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%. Equities analysts predict 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.