Rogers (NYSE:ROG) Sets New 52-Week Low - Here's What Happened

Shares of Rogers Co. (NYSE:ROG - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $52.46 and last traded at $52.54, with a volume of 29431 shares traded. The stock had previously closed at $54.20.

Analysts Set New Price Targets

Separately, CL King started coverage on shares of Rogers in a research note on Monday, March 31st. They issued a "buy" rating and a $85.00 target price on the stock.

Rogers Stock Up 0.2 %

The stock has a 50-day simple moving average of $72.57 and a 200-day simple moving average of $91.21. The firm has a market capitalization of $1.00 billion, a PE ratio of 38.33 and a beta of 0.51.

Rogers (NYSE:ROG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The electronics maker reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $192.20 million for the quarter, compared to analyst estimates of $191.75 million. Rogers had a net margin of 3.14% and a return on equity of 3.98%. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Equities analysts forecast that Rogers Co. will post 3.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rogers

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Rogers by 243.5% during the 1st quarter. GAMMA Investing LLC now owns 371 shares of the electronics maker's stock worth $25,000 after purchasing an additional 263 shares in the last quarter. Bridge City Capital LLC lifted its holdings in shares of Rogers by 1.6% in the first quarter. Bridge City Capital LLC now owns 20,208 shares of the electronics maker's stock worth $1,365,000 after buying an additional 314 shares in the last quarter. Procyon Advisors LLC grew its stake in Rogers by 59.9% during the first quarter. Procyon Advisors LLC now owns 4,971 shares of the electronics maker's stock valued at $336,000 after acquiring an additional 1,863 shares in the last quarter. Versant Capital Management Inc increased its holdings in Rogers by 698.9% during the 1st quarter. Versant Capital Management Inc now owns 703 shares of the electronics maker's stock worth $47,000 after acquiring an additional 615 shares during the period. Finally, Central Pacific Bank Trust Division lifted its stake in Rogers by 125.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the electronics maker's stock worth $152,000 after purchasing an additional 1,250 shares in the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Company Profile

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.