Invenomic Capital Management LP Takes $4.78 Million Position in Rogers Co. (NYSE:ROG)

Invenomic Capital Management LP acquired a new stake in shares of Rogers Co. (NYSE:ROG) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 40,275 shares of the electronics maker’s stock, valued at approximately $4,780,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ROG. Vanguard Group Inc. grew its holdings in shares of Rogers by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,261,077 shares of the electronics maker’s stock worth $268,367,000 after purchasing an additional 61,598 shares during the period. Norges Bank purchased a new stake in shares of Rogers during the 4th quarter worth about $197,159,000. Capital Research Global Investors grew its holdings in shares of Rogers by 2.8% during the 4th quarter. Capital Research Global Investors now owns 1,461,059 shares of the electronics maker’s stock worth $192,962,000 after purchasing an additional 39,116 shares during the period. Victory Capital Management Inc. boosted its holdings in Rogers by 12.1% in the 4th quarter. Victory Capital Management Inc. now owns 758,251 shares of the electronics maker’s stock worth $100,142,000 after acquiring an additional 81,771 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Rogers by 7.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 653,201 shares of the electronics maker’s stock worth $86,270,000 after acquiring an additional 43,086 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

Rogers Price Performance

NYSE ROG traded down $0.85 on Tuesday, reaching $122.39. The company had a trading volume of 111,789 shares, compared to its average volume of 164,349. The firm has a market capitalization of $2.28 billion, a PE ratio of 33.62 and a beta of 0.53. Rogers Co. has a 1 year low of $105.48 and a 1 year high of $169.47. The firm has a 50-day moving average of $121.22 and a 200-day moving average of $117.88.

Rogers (NYSE:ROG) last released its quarterly earnings results on Thursday, July 25th. The electronics maker reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. The firm had revenue of $214.20 million during the quarter, compared to analysts’ expectations of $215.00 million. Rogers had a return on equity of 4.67% and a net margin of 6.75%. During the same quarter in the prior year, the business earned $1.07 EPS. As a group, sell-side analysts expect that Rogers Co. will post 3.04 EPS for the current fiscal year.

Rogers 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.