Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen lowered shares of Omega Flex from a "buy" rating to a "hold" rating in a report on Thursday, May 15th.
Get Our Latest Stock Report on Omega Flex
Omega Flex Trading Down 0.8%
The firm has a market cap of $323.21 million, a PE ratio of 17.69 and a beta of 0.36. The business's 50-day simple moving average is $32.69 and its 200 day simple moving average is $39.10.
Omega Flex (NASDAQ:OFLX - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $0.35 EPS 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 Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Thursday, April 10th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Thursday, April 10th. Omega Flex's dividend payout ratio (DPR) is 79.07%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC grew its position in shares of Omega Flex by 183.8% in the 1st quarter. CWM LLC now owns 1,223 shares of the industrial products company's stock worth $43,000 after buying an additional 792 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Omega Flex by 4,271.4% in the 1st quarter. GAMMA Investing LLC now owns 1,530 shares of the industrial products company's stock worth $53,000 after buying an additional 1,495 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of 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 worth $62,000 after buying an additional 875 shares during the last quarter. State of Wyoming purchased a new position in shares of Omega Flex in the 4th quarter worth approximately $135,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Omega Flex in the 1st quarter worth approximately $159,000. Hedge funds and other institutional investors own 36.06% of the company's stock.
About Omega Flex
(
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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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