Omega Flex, Inc. Plans Quarterly Dividend of $0.34 (NASDAQ:OFLX)

Key Points

• Omega Flex declared a quarterly dividend of $0.34 per share, payable April 21 to shareholders of record April 9 (ex-dividend April 9), implying a 4.5% yield, and the company has raised its dividend each year for the past seven years.
• For the quarter the company reported EPS of $0.34 on $25.21 million in revenue; the stock trades near $30.25 with a market cap of about $305.3 million and a P/E of 20.6.
• Analyst sentiment is negative—Weiss Ratings reiterated a "sell" and MarketBeat shows a consensus Sell rating.

Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report) declared a quarterly dividend on Wednesday, March 25th. Stockholders of record on Thursday, April 9th will be given a dividend of 0.34 per share by the industrial products company on Tuesday, April 21st. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Thursday, April 9th.

Omega Flex has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 7 years.

Omega Flex Trading Up 1.6%

Shares of NASDAQ:OFLX opened at $30.25 on Thursday. Omega Flex has a 1 year low of $25.58 and a 1 year high of $37.92. The business has a fifty day simple moving average of $33.50 and a 200 day simple moving average of $31.02. The firm has a market cap of $305.34 million, a price-to-earnings ratio of 20.58 and a beta of 0.42.

Omega Flex (NASDAQ:OFLX - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The industrial products company reported $0.34 earnings per share for the quarter. Omega Flex had a return on equity of 17.68% and a net margin of 15.08%.The company had revenue of $25.21 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Omega Flex in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of "Sell".

Omega Flex Company Profile

Omega Flex, Inc designs, manufactures and distributes flexible metal tubing and related products that enable the safe and efficient conveyance of natural gas and other hydrocarbon fuels. The company's engineered solutions offer leak-resistant connections and installation flexibility, serving original equipment manufacturers, distributors and end-users across residential, commercial and industrial markets.

Its product portfolio includes corrugated stainless steel tubing (CSST), stainless steel hose assemblies, mechanical connectors, fittings, leak detection equipment and specialized installation tools.

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