Shares of Omega Flex, Inc. (NASDAQ:OFLX – Get Rating) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $104.49 and traded as high as $105.55. Omega Flex shares last traded at $103.70, with a volume of 22,523 shares.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of Omega Flex from a “hold” rating to a “buy” rating in a report on Saturday.
Omega Flex Trading Down 0.1 %
The business has a fifty day simple moving average of $108.40 and a two-hundred day simple moving average of $104.49. The company has a market cap of $1.05 billion, a PE ratio of 43.76 and a beta of 0.55.
Omega Flex Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 24th. Investors of record on Monday, April 10th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, April 6th. Omega Flex’s payout ratio is 54.01%.
Institutional Trading of Omega Flex
A number of hedge funds and other institutional investors have recently modified their holdings of OFLX. Kayne Anderson Rudnick Investment Management LLC grew its position in Omega Flex by 8.1% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,169,671 shares of the industrial products company’s stock valued at $108,335,000 after acquiring an additional 87,641 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Omega Flex by 0.7% in the 1st quarter. Conestoga Capital Advisors LLC now owns 549,334 shares of the industrial products company’s stock valued at $61,218,000 after buying an additional 3,904 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Omega Flex by 0.4% in the 4th quarter. Neuberger Berman Group LLC now owns 471,973 shares of the industrial products company’s stock valued at $44,045,000 after buying an additional 1,847 shares during the period. Vanguard Group Inc. boosted its stake in shares of Omega Flex by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 152,612 shares of the industrial products company’s stock valued at $14,135,000 after buying an additional 423 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Omega Flex by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 73,313 shares of the industrial products company’s stock valued at $8,170,000 after buying an additional 1,078 shares during the period. 38.09% of the stock is owned by institutional investors and hedge funds.
Omega Flex Company Profile
Omega Flex, Inc engages in the manufacture and sale of flexible metal hose and accessories. It offers products to numerous industries, such as steel production, fuel-handling, semiconductor, medical, pharmaceutical, petrochemical, residential and commercial construction, and power generation. Its products include TracPipe CounterStrike, DoubleTrac, Def-Trac, industrial, and Meditrac.
- Get a free copy of the StockNews.com research report on Omega Flex (OFLX)
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