Omega Flex (NASDAQ:OFLX) Stock Price Breaks Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Omega Flex shares fell below their 200-day moving average, trading as low as $25.51 versus the $29.58 average, and last changed hands at $25.64.
• Analyst sentiment remains negative: Weiss Ratings reiterated a “sell (d+)” rating, while MarketBeat reports an average rating of “Sell.”
• The company declared a quarterly dividend of $0.34 per share, or $1.36 annualized, representing a 5.3% yield; however, its payout ratio is high at 114.29%.

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 $29.58 and traded as low as $25.51. Omega Flex shares last traded at $25.64, with a volume of 33,262 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d+)" rating on shares of Omega Flex in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Omega Flex has an average rating of "Sell".

Omega Flex Trading Down 2.6%

The firm has a market capitalization of $258.71 million, a P/E ratio of 21.55 and a beta of 0.44. The business's fifty day moving average is $27.36 and its 200 day moving average is $29.58.

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 company had revenue of $24.06 million for the quarter. Omega Flex had a return on equity of 14.26% and a net margin of 12.27%.

Omega Flex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a yield of 5.3%. Omega Flex's payout ratio is presently 114.29%.

Institutional Trading of Omega Flex

Large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp bought a new stake in Omega Flex during the first quarter worth approximately $46,000. Versant Capital Management Inc lifted its holdings in shares of Omega Flex by 912.1% during 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 bought a new stake in shares of Omega Flex in the 2nd quarter valued at approximately $121,000. Canada Pension Plan Investment Board bought a new stake in Omega Flex in the second quarter valued at $217,000. Finally, Ieq Capital LLC bought a new stake in Omega Flex during the second quarter worth about $358,000. 36.06% of the stock is owned by institutional investors.

Omega Flex Company Profile

Omega Flex, Inc NASDAQ: OFLX develops and manufactures flexible metal piping systems. The company is best known for corrugated stainless steel tubing (CSST) used in natural gas and propane distribution systems for residential, commercial and industrial applications.

Its product portfolio includes TracPipe and CounterStrike flexible gas piping systems, which are designed to simplify installation compared with traditional rigid piping. Omega Flex also offers products for specialized applications, including DoubleTrac containment systems and MediTrac medical gas piping.

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