Rogers Co. (NYSE:ROG) Short Interest Update
Rogers Co. (NYSE:ROG) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totalling 606,300 shares, a decline of 17.2% from the June 30th total of 732,600 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average daily trading volume, of 217,100 shares, the days-to-cover ratio is presently 2.8 days.
Shares of ROG traded up $5.97 during midday trading on Tuesday, hitting $137.42. The company had a trading volume of 7,619 shares, compared to its average volume of 188,843. The firm has a 50 day moving average price of $159.77. The stock has a market cap of $2.48 billion, a PE ratio of 23.69 and a beta of 2.16. Rogers has a 52 week low of $89.21 and a 52 week high of $206.43. The company has a current ratio of 4.52, a quick ratio of 3.33 and a debt-to-equity ratio of 0.22.
Rogers (NYSE:ROG) last released its earnings results on Wednesday, July 31st. The electronics maker reported $1.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.09. The company had revenue of $242.90 million during the quarter, compared to the consensus estimate of $244.90 million. Rogers had a net margin of 10.39% and a return on equity of 14.33%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.19 EPS. On average, research analysts predict that Rogers will post 6.3 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Rogers by 0.8% in the 1st quarter. BlackRock Inc. now owns 2,666,838 shares of the electronics maker’s stock worth $423,707,000 after purchasing an additional 21,452 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of Rogers by 5.0% during the 1st quarter. William Blair Investment Management LLC now owns 1,514,044 shares of the electronics maker’s stock valued at $240,551,000 after buying an additional 72,356 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in shares of Rogers by 2.6% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 564,966 shares of the electronics maker’s stock valued at $97,502,000 after buying an additional 14,579 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Rogers by 17.9% during 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 last quarter. Finally, Frontier Capital Management Co. LLC grew its position in shares of Rogers by 11.1% during the 1st quarter. Frontier Capital Management Co. LLC now owns 331,316 shares of the electronics maker’s stock valued at $52,639,000 after buying an additional 33,162 shares during the last quarter. 99.15% of the stock is owned by institutional investors.
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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