Rogers (NYSE:ROG) Reaches New 1-Year High – Here’s What Happened

Rogers Corporation (NYSE:ROG)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $107.23 and last traded at $106.54, with a volume of 11570 shares trading hands. The stock had previously closed at $106.10.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ROG shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rogers in a research report on Thursday, January 22nd. Wall Street Zen upgraded Rogers from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. B. Riley Financial reaffirmed a “buy” rating on shares of Rogers in a research report on Thursday, October 30th. Finally, Zacks Research downgraded shares of Rogers from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.00.

Rogers Stock Up 0.9%

The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -29.50 and a beta of 0.40. The stock’s 50 day moving average price is $95.05 and its two-hundred day moving average price is $85.06.

Hedge Funds Weigh In On Rogers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Rogers during the 2nd quarter worth approximately $89,111,000. Capital Research Global Investors purchased a new position in Rogers during the third quarter worth about $98,295,000. Atreides Management LP acquired a new position in Rogers in the second quarter valued at approximately $12,888,000. Ameriprise Financial Inc. lifted its stake in shares of Rogers by 38.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 596,713 shares of the electronics maker’s stock valued at $40,863,000 after purchasing an additional 165,174 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Rogers in the third quarter valued at about $11,373,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

About Rogers

Rogers Corporation (NYSE: ROG) is a global technology and materials company specializing in the development and manufacture of engineered materials and components. The company designs and produces a broad portfolio of high-performance elastomeric, foam, silicone, adhesive and thermal management solutions, as well as advanced circuit board laminates. Its products are engineered to meet stringent requirements in areas such as electrical insulation, thermal performance and electromagnetic shielding.

Rogers serves a diverse range of end markets, including automotive, aerospace and defense, telecommunications, consumer electronics and industrial applications.