Omega Flex (NASDAQ:OFLX) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $35.92 and traded as high as $37.21. Omega Flex shares last traded at $36.35, with a volume of 89,754 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Omega Flex from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

Omega Flex Stock Performance

The firm has a market capitalization of $346.49 million, a price-to-earnings ratio of 19.97 and a beta of 0.36. The business has a 50 day simple moving average of $32.77 and a 200-day simple moving average of $35.72.

Omega Flex (NASDAQ:OFLX - Get Free Report) last issued its quarterly earnings data 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 21.09% and a net margin of 17.40%. The firm had revenue of $23.33 million during the quarter.

Omega Flex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 30th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, June 30th. Omega Flex's dividend payout ratio is presently 79.07%.

Insider Activity at Omega Flex

In related news, Chairman Kevin R. Hoben sold 972 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $31.55, for a total transaction of $30,666.60. Following the completion of the sale, the chairman owned 898,533 shares in the company, valued at $28,348,716.15. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 65.20% of the company's stock.

Institutional Investors Weigh In On Omega Flex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OFLX. CWM LLC lifted its stake in Omega Flex by 183.8% in the first 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 increased its holdings in shares of 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 during the period. PNC Financial Services Group Inc. increased its holdings in shares of Omega Flex by 95.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,787 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 875 shares during the period. State of Wyoming acquired a new position in shares of Omega Flex in the fourth quarter valued at approximately $135,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Omega Flex in the first quarter valued at approximately $159,000. 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.