Kevin R. Hoben Sells 972 Shares of Omega Flex, Inc. (NASDAQ:OFLX) Stock

Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report) Chairman Kevin R. Hoben sold 972 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $31.55, for a total transaction of $30,666.60. Following the completion of the transaction, the chairman now owns 898,533 shares of the company's stock, valued at approximately $28,348,716.15. This represents a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Omega Flex Trading Down 1.4%

NASDAQ OFLX traded down $0.45 on Friday, reaching $31.32. The company's stock had a trading volume of 134,672 shares, compared to its average volume of 26,550. The firm has a market cap of $316.14 million, a PE ratio of 17.30 and a beta of 0.36. The business has a 50-day moving average price of $31.69 and a 200 day moving average price of $37.09. Omega Flex, Inc. has a 52 week low of $28.12 and a 52 week high of $57.81.

Omega Flex (NASDAQ:OFLX - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $0.35 earnings per share for the quarter. The business had revenue of $23.33 million for the quarter. Omega Flex had a net margin of 17.71% and a return on equity of 22.68%.

Omega Flex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Thursday, April 10th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.36 dividend on an annualized basis and a yield of 4.34%. Omega Flex's payout ratio is currently 79.07%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Omega Flex from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th.

Institutional Trading of Omega Flex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC increased its stake in Omega Flex by 2.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,075,240 shares of the industrial products company's stock valued at $45,128,000 after acquiring an additional 24,466 shares during the period. Proficio Capital Partners LLC acquired a new position in Omega Flex in the fourth quarter valued at about $690,000. Geode Capital Management LLC boosted its position in Omega Flex by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 90,131 shares of the industrial products company's stock valued at $3,783,000 after buying an additional 769 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Omega Flex by 34.5% in the fourth quarter. Bank of New York Mellon Corp now owns 59,459 shares of the industrial products company's stock valued at $2,495,000 after buying an additional 15,242 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Omega Flex by 14.6% in the fourth quarter. American Century Companies Inc. now owns 7,327 shares of the industrial products company's stock valued at $308,000 after buying an additional 933 shares in the last quarter. Institutional investors own 36.06% of the company's stock.

About Omega Flex

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in North America and internationally. It offers flexible gas piping for use in residential and commercial buildings; fittings; containment pining; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.