Rogers (NYSE:ROG) Sets New 52-Week High – Here’s Why

Shares of Rogers Corporation (NYSE:ROG) reached a new 52-week high during mid-day trading on Tuesday . The stock 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 Ratings Changes

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

Rogers Stock Performance

The business has a fifty day simple moving average of $95.05 and a 200 day simple moving average of $85.06. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -29.50 and a beta of 0.40.

Institutional Investors Weigh In On Rogers

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in Rogers during the second quarter worth about $89,111,000. Capital Research Global Investors purchased a new position in Rogers in the third quarter valued at approximately $98,295,000. Atreides Management LP acquired a new position in shares of Rogers during the 2nd quarter valued at $12,888,000. Ameriprise Financial Inc. lifted its stake in shares of Rogers by 38.3% during the second quarter. Ameriprise Financial Inc. now owns 596,713 shares of the electronics maker’s stock worth $40,863,000 after purchasing an additional 165,174 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in Rogers in the 3rd quarter worth approximately $11,373,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Rogers Company Profile

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.