Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $35.01 and traded as low as $33.16. Omega Flex shares last traded at $33.70, with a volume of 22,704 shares traded.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen downgraded Omega Flex from a "buy" rating to a "hold" rating in a report on Thursday, May 15th.
Get Our Latest Analysis on OFLX
Omega Flex Trading Down 2.2%
The firm's fifty day moving average price is $33.47 and its 200-day moving average price is $35.01. The firm has a market cap of $340.03 million, a price-to-earnings ratio of 19.59 and a beta of 0.36.
Omega Flex (NASDAQ:OFLX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.35 earnings per share for the quarter. The firm had revenue of $23.33 million during the quarter. Omega Flex had a net margin of 17.40% and a return on equity of 21.09%.
Omega Flex Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 30th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Monday, June 30th. Omega Flex's dividend payout ratio is currently 79.07%.
Insider Activity
In related news, Chairman Kevin R. Hoben sold 972 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $31.55, for a total value 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. This represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 65.20% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC boosted its stake in shares of Omega Flex by 183.8% during the first 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 period. GAMMA Investing LLC lifted its position in Omega Flex by 4,271.4% during the 1st quarter. GAMMA Investing LLC now owns 1,530 shares of the industrial products company's stock worth $53,000 after acquiring an additional 1,495 shares during the period. PNC Financial Services Group Inc. grew its stake 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 valued at $62,000 after purchasing an additional 875 shares during the last quarter. 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. 36.06% of the stock is owned by hedge funds and other institutional investors.
Omega Flex Company Profile
(
Get Free Report)
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.
See Also
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