Shares of Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $34.40 and traded as low as $31.45. Omega Flex shares last traded at $32.38, with a volume of 16,206 shares changing hands.
Analysts Set New Price Targets
Separately, Wall Street Zen lowered Omega Flex from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.
Check Out Our Latest Analysis on OFLX
Omega Flex Stock Performance
The company has a 50 day moving average price of $33.47 and a 200 day moving average price of $34.34. The firm has a market cap of $330.25 million, a price-to-earnings ratio of 19.48 and a beta of 0.31.
Omega Flex (NASDAQ:OFLX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.41 EPS for the quarter. Omega Flex had a return on equity of 20.48% and a net margin of 16.91%. The business had revenue of $25.52 million during the quarter.
Omega Flex Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Monday, June 30th were issued a $0.34 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.36 dividend on an annualized basis and a yield of 4.2%. Omega Flex's dividend payout ratio (DPR) is 80.95%.
Insider Transactions at Omega Flex
In related news, Chairman Kevin R. Hoben sold 972 shares of Omega Flex stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $31.55, for a total value of $30,666.60. Following the completion of the transaction, the chairman directly owned 898,533 shares in the company, valued at approximately $28,348,716.15. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 65.20% of the company's stock.
Institutional Trading of Omega Flex
A number of hedge funds and other institutional investors have recently bought and sold shares of OFLX. Ameriprise Financial Inc. raised its stake in Omega Flex by 47.1% in the second quarter. Ameriprise Financial Inc. now owns 148,636 shares of the industrial products company's stock valued at $4,813,000 after buying an additional 47,582 shares in the last quarter. Cardinal Capital Management acquired a new stake in Omega Flex in the first quarter valued at $933,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in Omega Flex by 2.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,075,240 shares of the industrial products company's stock valued at $45,128,000 after buying an additional 24,466 shares in the last quarter. Nuveen LLC acquired a new stake in Omega Flex in the first quarter valued at $848,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Omega Flex during the second quarter worth about $521,000. 36.06% of the stock is currently owned by institutional investors and hedge funds.
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.
Recommended Stories
Before you consider Omega Flex, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Omega Flex wasn't on the list.
While Omega Flex currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access