Omega Flex (NASDAQ:OFLX – Get Free Report) released its quarterly earnings data on Wednesday. The industrial products company reported $0.27 earnings per share for the quarter, Zacks reports. Omega Flex had a net margin of 13.60% and a return on equity of 15.94%.
Omega Flex Stock Performance
Shares of NASDAQ:OFLX traded up $0.15 during trading on Wednesday, reaching $30.08. The stock had a trading volume of 30,249 shares, compared to its average volume of 44,230. The business has a fifty day moving average price of $30.42 and a 200-day moving average price of $31.68. Omega Flex has a 1-year low of $25.58 and a 1-year high of $37.92. The stock has a market cap of $303.51 million, a PE ratio of 22.62 and a beta of 0.45.
Omega Flex Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.5%. Omega Flex’s dividend payout ratio is presently 102.26%.
Wall Street Analyst Weigh In
View Our Latest Report on Omega Flex
Institutional Investors Weigh In On Omega Flex
A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its holdings in shares of Omega Flex by 65.2% in the 4th quarter. Russell Investments Group Ltd. now owns 1,120 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 442 shares during the last quarter. Alliancebernstein L.P. raised its position in Omega Flex by 6.7% in the third quarter. Alliancebernstein L.P. now owns 7,970 shares of the industrial products company’s stock valued at $249,000 after purchasing an additional 500 shares during the period. US Bancorp DE lifted its stake in Omega Flex by 19.8% during the third quarter. US Bancorp DE now owns 4,923 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 814 shares in the last quarter. Barclays PLC lifted its stake in Omega Flex by 14.3% during the fourth quarter. Barclays PLC now owns 7,060 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 882 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Omega Flex by 25.7% during the third quarter. BNP Paribas Financial Markets now owns 4,679 shares of the industrial products company’s stock worth $146,000 after buying an additional 957 shares during the period. 36.06% of the stock is currently owned by hedge funds and other institutional investors.
About Omega Flex
Omega Flex, Inc designs, manufactures and distributes flexible metal tubing and related products that enable the safe and efficient conveyance of natural gas and other hydrocarbon fuels. The company’s engineered solutions offer leak-resistant connections and installation flexibility, serving original equipment manufacturers, distributors and end-users across residential, commercial and industrial markets.
Its product portfolio includes corrugated stainless steel tubing (CSST), stainless steel hose assemblies, mechanical connectors, fittings, leak detection equipment and specialized installation tools.
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