Rogers (NYSE:ROG) Trading Down 7.7% - Here's What Happened

Rogers Corporation (NYSE:ROG - Get Free Report)'s share price was down 7.7% during mid-day trading on Monday . The stock traded as low as $69.10 and last traded at $67.64. Approximately 35,372 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 171,616 shares. The stock had previously closed at $73.27.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ROG. 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. CL King began coverage on shares of Rogers in a research note on Monday, March 31st. They set a "buy" rating and a $85.00 price objective on the stock.

Rogers Stock Performance

The business's 50 day simple moving average is $68.87 and its 200-day simple moving average is $75.25. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 73.20 and a beta of 0.44.

Rogers (NYSE:ROG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. Rogers had a net margin of 2.09% and a return on equity of 3.52%. The company had revenue of $190.50 million for the quarter, compared to the consensus estimate of $187.50 million. As a group, sell-side analysts expect that Rogers Corporation will post 3.57 EPS for the current year.

Insider Buying and Selling at Rogers

In other news, VP Griffin Melaney Gappert sold 756 shares of Rogers stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $62.55, for a total value of $47,287.80. Following the transaction, the vice president directly owned 4,484 shares of the company's stock, valued at $280,474.20. This trade represents a 14.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in Rogers by 243.5% in the first quarter. GAMMA Investing LLC now owns 371 shares of the electronics maker's stock worth $25,000 after acquiring an additional 263 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Rogers by 81.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the electronics maker's stock worth $30,000 after acquiring an additional 199 shares in the last quarter. Sterling Capital Management LLC grew its position in Rogers by 810.8% in the fourth quarter. Sterling Capital Management LLC now owns 592 shares of the electronics maker's stock worth $60,000 after acquiring an additional 527 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Rogers by 698.9% in the first quarter. Versant Capital Management Inc now owns 703 shares of the electronics maker's stock worth $47,000 after buying an additional 615 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Rogers by 106.9% in the second quarter. Parallel Advisors LLC now owns 745 shares of the electronics maker's stock worth $51,000 after buying an additional 385 shares during the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

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.