Rogers Co. (NYSE:ROG) Sees Significant Decline in Short Interest

Rogers Co. (NYSE:ROG) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 571,600 shares, a drop of 23.0% from the September 30th total of 742,500 shares. Based on an average daily trading volume, of 124,000 shares, the short-interest ratio is presently 4.6 days. Currently, 3.1% of the shares of the company are short sold.

Insiders Place Their Bets

In other Rogers news, VP Brian Keith Larabee sold 600 shares of Rogers stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $123.37, for a total value of $74,022.00. Following the completion of the sale, the vice president now owns 3,409 shares in the company, valued at $420,568.33. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Rogers

Several hedge funds and other institutional investors have recently modified their holdings of ROG. Asset Dedication LLC acquired a new stake in Rogers in the second quarter valued at about $25,000. Bessemer Group Inc. grew its holdings in shares of Rogers by 2,926.3% during the 1st quarter. Bessemer Group Inc. now owns 575 shares of the electronics maker’s stock valued at $68,000 after purchasing an additional 556 shares during the last quarter. Covestor Ltd increased its position in Rogers by 629.5% during the 1st quarter. Covestor Ltd now owns 766 shares of the electronics maker’s stock worth $91,000 after purchasing an additional 661 shares in the last quarter. Quest Partners LLC boosted its position in Rogers by 39,200.0% in the second quarter. Quest Partners LLC now owns 786 shares of the electronics maker’s stock valued at $95,000 after buying an additional 784 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Rogers during the first quarter worth $95,000. Institutional investors own 96.02% of the company’s stock.

Rogers Trading Up 1.8 %

Rogers stock traded up $1.82 during trading hours on Friday, reaching $101.32. 244,188 shares of the stock were exchanged, compared to its average volume of 150,811. Rogers has a twelve month low of $96.10 and a twelve month high of $138.85. The company has a market cap of $1.89 billion, a P/E ratio of 27.84 and a beta of 0.50. The stock has a 50 day moving average of $104.46 and a two-hundred day moving average of $112.96.

Rogers (NYSE:ROG) last posted its quarterly earnings results on Thursday, October 24th. The electronics maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.13. Rogers had a net margin of 6.75% and a return on equity of 4.67%. The business had revenue of $210.30 million for the quarter, compared to analyst estimates of $220.20 million. During the same quarter last year, the business posted $1.24 EPS. On average, analysts expect that Rogers will post 3.04 earnings per share for the current fiscal 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.