Nuance Investments LLC Sells 192,734 Shares of Rogers Corporation (NYSE:ROG)

Nuance Investments LLC reduced its position in Rogers Corporation (NYSE:ROG) by 23.8% in the first quarter, HoldingsChannel.com reports. The firm owned 617,347 shares of the electronics maker’s stock after selling 192,734 shares during the period. Rogers accounts for approximately 2.7% of Nuance Investments LLC’s investment portfolio, making the stock its 15th biggest holding. Nuance Investments LLC’s holdings in Rogers were worth $41,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ROG. Russell Investments Group Ltd. boosted its position in shares of Rogers by 7.6% in the fourth quarter. Russell Investments Group Ltd. now owns 16,025 shares of the electronics maker’s stock worth $1,628,000 after purchasing an additional 1,130 shares during the period. Bank of Montreal Can boosted its position in shares of Rogers by 6.2% in the fourth quarter. Bank of Montreal Can now owns 2,022 shares of the electronics maker’s stock worth $205,000 after purchasing an additional 118 shares during the period. Invesco Ltd. boosted its position in shares of Rogers by 0.7% in the fourth quarter. Invesco Ltd. now owns 81,130 shares of the electronics maker’s stock worth $8,244,000 after purchasing an additional 583 shares during the period. Raymond James Financial Inc. bought a new position in shares of Rogers in the fourth quarter worth approximately $1,585,000. Finally, Sterling Capital Management LLC boosted its position in shares of Rogers by 810.8% in the fourth quarter. Sterling Capital Management LLC now owns 592 shares of the electronics maker’s stock worth $60,000 after purchasing an additional 527 shares during the period. 96.02% of the stock is currently owned by institutional investors.

Rogers Stock Performance

Shares of NYSE:ROG opened at $69.90 on Tuesday. The firm has a fifty day moving average price of $68.84 and a 200 day moving average price of $71.06. Rogers Corporation has a fifty-two week low of $51.43 and a fifty-two week high of $114.05. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -19.80 and a beta of 0.46.

Rogers (NYSE:ROG) last issued its earnings results on Thursday, July 31st. The electronics maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.16). Rogers had a positive return on equity of 3.04% and a negative net margin of 8.14%. The company had revenue of $202.80 million for the quarter, compared to the consensus estimate of $198.75 million. As a group, research analysts predict that Rogers Corporation will post 3.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, B. Riley upped their price target on shares of Rogers from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th.

About Rogers

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.