Omega Flex (NASDAQ:OFLX) Shares Gap Down to $52.14

Omega Flex, Inc. (NASDAQ:OFLX) gapped down prior to trading on Monday . The stock had previously closed at $52.14, but opened at $50.72. Omega Flex shares last traded at $50.72, with a volume of 1,023 shares traded.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Omega Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 9th.

Omega Flex Trading Up 0.4 %

The firm has a 50-day moving average of $48.81 and a 200 day moving average of $58.38. The stock has a market capitalization of $513.78 million, a price-to-earnings ratio of 26.69 and a beta of 0.40.

Omega Flex (NASDAQ:OFLX) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.45 EPS for the quarter. Omega Flex had a return on equity of 24.24% and a net margin of 18.18%. The company had revenue of $24.62 million for the quarter.

Omega Flex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.36 annualized dividend and a yield of 2.67%. Omega Flex’s payout ratio is 71.58%.

Institutional Investors Weigh In On Omega Flex

A number of institutional investors have recently added to or reduced their stakes in the company. Cim LLC acquired a new position in shares of Omega Flex in the 4th quarter worth approximately $296,000. Virtu Financial LLC bought a new position in shares of Omega Flex in the fourth quarter valued at $280,000. Norden Group LLC bought a new position in shares of Omega Flex in the first quarter valued at $3,513,000. SYSTM Wealth Solutions LLC acquired a new stake in shares of Omega Flex during the 1st quarter valued at $124,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Omega Flex during the 1st quarter worth $30,000. 36.06% of the stock is currently owned by institutional investors and hedge funds.

Omega Flex Company Profile

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.