Omega Flex, Inc. (NASDAQ:OFLX – Get Free Report)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $31.76 and traded as low as $29.26. Omega Flex shares last traded at $29.26, with a volume of 31,848 shares traded.
Analyst Ratings Changes
Separately, Weiss Ratings lowered Omega Flex from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.
Read Our Latest Report on OFLX
Omega Flex Price Performance
Omega Flex (NASDAQ:OFLX – Get Free Report) last posted its earnings results on Friday, May 1st. The industrial products company reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $23.09 million for the quarter. Omega Flex had a net margin of 13.60% and a return on equity of 15.94%.
Omega Flex Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, June 23rd. Omega Flex’s dividend payout ratio (DPR) is currently 102.26%.
Hedge Funds Weigh In On Omega Flex
Several large investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in Omega Flex by 36.1% during the 1st quarter. Royal Bank of Canada now owns 9,843 shares of the industrial products company’s stock valued at $342,000 after purchasing an additional 2,612 shares during the period. Cubist Systematic Strategies LLC bought a new position in Omega Flex in the 1st quarter worth approximately $159,000. Jacobs Levy Equity Management Inc. bought a new position in Omega Flex in the 1st quarter worth approximately $292,000. Goldman Sachs Group Inc. lifted its holdings in shares of Omega Flex by 28.2% during the first quarter. Goldman Sachs Group Inc. now owns 58,834 shares of the industrial products company’s stock worth $2,046,000 after buying an additional 12,928 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Omega Flex by 119.0% during the first quarter. Jane Street Group LLC now owns 14,080 shares of the industrial products company’s stock worth $490,000 after buying an additional 7,651 shares during the last quarter. Institutional investors and hedge funds own 36.06% of the company’s stock.
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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