Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $29.72 and traded as low as $24.86. Omega Flex shares last traded at $25.17, with a volume of 26,828 shares trading hands.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a "sell (d+)" rating on shares of Omega Flex in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of "Sell".
Read Our Latest Research Report on OFLX
Omega Flex Price Performance
The firm has a market cap of $253.97 million, a price-to-earnings ratio of 21.15 and a beta of 0.45. The stock has a 50-day moving average price of $27.94 and a 200 day moving average price of $29.72.
Omega Flex (NASDAQ:OFLX - Get Free Report) last announced its earnings results on Thursday, August 13th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter. The firm had revenue of $24.06 million during the quarter. Omega Flex had a return on equity of 14.26% and a net margin of 12.27%.
Omega Flex Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Omega Flex's dividend payout ratio is presently 114.29%.
Hedge Funds Weigh In On Omega Flex
A number of institutional investors have recently modified their holdings of OFLX. Fifth Third Bancorp acquired a new position in Omega Flex in the 1st quarter valued at $46,000. Versant Capital Management Inc lifted its stake in shares of Omega Flex by 912.1% in the 2nd quarter. Versant Capital Management Inc now owns 1,670 shares of the industrial products company's stock worth $52,000 after acquiring an additional 1,505 shares during the period. Deutsche Bank AG purchased a new stake in shares of Omega Flex in the second quarter valued at about $121,000. Bank of New York Mellon Corp boosted its holdings in shares of Omega Flex by 8.2% in the first quarter. Bank of New York Mellon Corp now owns 53,321 shares of the industrial products company's stock valued at $1,655,000 after acquiring an additional 4,055 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Omega Flex in the second quarter valued at about $217,000. 36.06% of the stock is owned by institutional investors and hedge funds.
About Omega Flex
(
Get Free Report)
Omega Flex, Inc is a manufacturer of flexible metal tubing and related products used primarily in gas piping applications. The company's products are designed to provide an alternative to rigid piping and are used to distribute natural gas and propane in residential, commercial, and industrial buildings.
Its product portfolio includes corrugated stainless steel tubing systems marketed under brands such as TracPipe and CounterStrike, along with associated fittings, manifolds, termination components, and installation accessories.
Further Reading
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