Omega Flex (NASDAQ:OFLX) Share Price Crosses Below 200 Day Moving Average - Should You Sell?

Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.69 and traded as low as $34.61. Omega Flex shares last traded at $35.12, with a volume of 15,668 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Omega Flex from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

Omega Flex Trading Up 0.5%

The firm's fifty day moving average price is $33.33 and its 200-day moving average price is $39.69. The company has a market cap of $354.50 million, a price-to-earnings ratio of 19.40 and a beta of 0.36.

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 (EPS) for the quarter. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%. The business had revenue of $23.33 million during the quarter.

Omega Flex Dividend Announcement

The business 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. This represents a $1.36 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date was Thursday, April 10th. Omega Flex's payout ratio is presently 79.07%.

Institutional Trading of Omega Flex

A number of institutional investors have recently modified their holdings of the company. CWM LLC raised its position in Omega Flex by 183.8% in the 1st quarter. CWM LLC now owns 1,223 shares of the industrial products company's stock valued at $43,000 after buying an additional 792 shares during the last quarter. GAMMA Investing LLC grew its position in Omega Flex by 4,271.4% in the first quarter. GAMMA Investing LLC now owns 1,530 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 1,495 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Omega Flex by 95.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,787 shares of the industrial products company's stock valued at $62,000 after buying an additional 875 shares during the last quarter. State of Wyoming bought a new stake in Omega Flex during the 4th quarter worth about $135,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Omega Flex during the 1st quarter worth about $159,000. 36.06% of the stock is currently owned by institutional investors.

Omega Flex Company Profile

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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