Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report) shares saw strong trading volume on Friday . 4,378 shares changed hands during trading, a decline of 50% from the previous session's volume of 8,775 shares.The stock last traded at $66.27 and had previously closed at $64.90.
Omega Flex Stock Performance
The stock has a market capitalization of $654.94 million, a price-to-earnings ratio of 34.52 and a beta of 0.37. The firm has a fifty day moving average of $68.48 and a 200-day moving average of $70.97.
Omega Flex (NASDAQ:OFLX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.42 earnings per share (EPS) for the quarter. Omega Flex had a return on equity of 24.76% and a net margin of 18.03%. The firm had revenue of $25.22 million during the quarter.
Omega Flex Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were issued a $0.33 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.32 annualized dividend and a yield of 2.03%. Omega Flex's dividend payout ratio is currently 69.47%.
Institutional Trading of Omega Flex
Several large investors have recently added to or reduced their stakes in OFLX. Bank of New York Mellon Corp grew its stake in shares of Omega Flex by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 40,859 shares of the industrial products company's stock valued at $3,217,000 after acquiring an additional 429 shares in the last quarter. Hunter Associates Investment Management LLC grew its stake in shares of Omega Flex by 0.8% during the third quarter. Hunter Associates Investment Management LLC now owns 78,822 shares of the industrial products company's stock valued at $6,210,000 after acquiring an additional 650 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Omega Flex during the fourth quarter valued at about $37,000. Portside Wealth Group LLC grew its stake in shares of Omega Flex by 9.3% during the fourth quarter. Portside Wealth Group LLC now owns 3,611 shares of the industrial products company's stock valued at $255,000 after acquiring an additional 307 shares in the last quarter. Finally, Cim LLC acquired a new stake in shares of Omega Flex during the fourth quarter valued at about $296,000. 36.06% of the stock is currently owned by institutional investors and hedge funds.
Omega Flex Company Profile
(
Get Free Report)
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.
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