Rogers Co. (NYSE:ROG)’s share price traded up 7.2% on Friday . The stock traded as high as $146.29 and last traded at $144.62, 153,409 shares traded hands during trading. A decline of 15% from the average session volume of 180,153 shares. The stock had previously closed at $134.96.
Several analysts have weighed in on the company. Zacks Investment Research downgraded Rogers from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. ValuEngine downgraded Rogers from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $194.75.
The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.33 and a current ratio of 4.52. The company has a 50 day simple moving average of $135.94 and a two-hundred day simple moving average of $153.45. The firm has a market cap of $2.50 billion, a PE ratio of 20.51 and a beta of 2.20.
Several hedge funds have recently modified their holdings of ROG. Westfield Capital Management Co. LP acquired a new position in shares of Rogers in the 2nd quarter valued at about $38,834,000. Nuveen Asset Management LLC acquired a new position in shares of Rogers in the 2nd quarter valued at about $18,284,000. Morgan Stanley lifted its holdings in shares of Rogers by 803.2% in the 2nd quarter. Morgan Stanley now owns 87,690 shares of the electronics maker’s stock valued at $15,133,000 after buying an additional 77,981 shares during the period. Front Street Capital Management Inc. lifted its holdings in shares of Rogers by 42.8% in the 2nd quarter. Front Street Capital Management Inc. now owns 253,307 shares of the electronics maker’s stock valued at $43,716,000 after buying an additional 75,924 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Rogers by 17.9% in the 2nd quarter. Wells Fargo & Company MN now owns 380,761 shares of the electronics maker’s stock valued at $65,711,000 after buying an additional 57,753 shares during the period. 96.54% of the stock is owned by institutional investors and hedge funds.
About Rogers (NYSE:ROG)
Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. It operates in Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES), and Other segments. The ACS segment offers circuit materials and solutions for connectivity applications in wireless infrastructure, automotive, aerospace and defense, connected devices, wired infrastructure, and consumer electronics under the RO3000, RO4000, RT/duroid, TMM, AD Series, and CLTE Series names.
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