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

Key Points

• Omega Flex's stock price has fallen below its 200-day moving average of $32.71, trading as low as $28.72.
• The company has a consensus rating of "Sell" from analysts, with a reaffirmed sell rating from Weiss Ratings.
• Omega Flex declared a quarterly dividend of $0.34, yielding 4.7%, with a dividend payout ratio of 80.95%.

Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $32.71 and traded as low as $28.72. Omega Flex shares last traded at $29.15, with a volume of 28,394 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Omega Flex in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Sell".

Omega Flex Stock Up 0.4%

The stock has a market cap of $294.24 million, a PE ratio of 17.35 and a beta of 0.35. The business's fifty day moving average is $32.90 and its 200 day moving average is $32.71.

Omega Flex (NASDAQ:OFLX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.41 EPS for the quarter. The firm had revenue of $25.52 million for the quarter. Omega Flex had a net margin of 16.91% and a return on equity of 20.48%.

Omega Flex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 8th. Shareholders of record on Thursday, September 25th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Thursday, September 25th. Omega Flex's dividend payout ratio is 80.95%.

Institutional Trading of Omega Flex

Several institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its holdings in shares of Omega Flex by 4.6% in the first quarter. American Century Companies Inc. now owns 7,667 shares of the industrial products company's stock valued at $267,000 after purchasing an additional 340 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Omega Flex by 2.3% in the second quarter. Squarepoint Ops LLC now owns 19,709 shares of the industrial products company's stock valued at $638,000 after purchasing an additional 442 shares in the last quarter. PDT Partners LLC lifted its holdings in shares of Omega Flex by 7.3% in the first quarter. PDT Partners LLC now owns 6,791 shares of the industrial products company's stock valued at $236,000 after purchasing an additional 462 shares in the last quarter. CWM LLC lifted its holdings in shares of Omega Flex by 51.8% in the second quarter. CWM LLC now owns 1,857 shares of the industrial products company's stock valued at $60,000 after purchasing an additional 634 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Omega Flex by 9.3% in the third quarter. Exchange Traded Concepts LLC now owns 8,165 shares of the industrial products company's stock valued at $255,000 after purchasing an additional 696 shares in the last quarter. Hedge funds and other 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.

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