Omega Flex (NASDAQ:OFLX) Sees Strong Trading Volume

Shares of Omega Flex, Inc. (NASDAQ:OFLX) saw unusually-high trading volume on Thursday . Approximately 1,232 shares were traded during mid-day trading, a decline of 88% from the previous session’s volume of 10,683 shares.The stock last traded at $136.50 and had previously closed at $135.78.

The stock has a market cap of $1.38 billion, a P/E ratio of 53.66 and a beta of 0.38. The firm’s fifty day moving average price is $127.54 and its 200-day moving average price is $142.04.

Omega Flex (NASDAQ:OFLX) last issued its earnings results on Wednesday, October 20th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter. Omega Flex had a net margin of 20.43% and a return on equity of 50.23%. The firm had revenue of $31.73 million for the quarter.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 30th. Stockholders of record on Tuesday, December 21st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Monday, December 20th. Omega Flex’s dividend payout ratio is 47.06%.

In related news, President Mark F. Albino sold 1,153 shares of the firm’s stock in a transaction on Wednesday, November 17th. The stock was sold at an average price of $140.31, for a total value of $161,777.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Mark F. Albino sold 6,174 shares of the firm’s stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $140.29, for a total value of $866,150.46. The disclosure for this sale can be found here. Insiders sold 19,710 shares of company stock valued at $2,737,417 in the last ninety days. 43.00% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Citigroup Inc. raised its position in shares of Omega Flex by 100.5% in the 3rd quarter. Citigroup Inc. now owns 409 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 205 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Omega Flex by 322.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 520 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 397 shares during the last quarter. Metropolitan Life Insurance Co NY purchased a new position in shares of Omega Flex in the 1st quarter worth about $78,000. SG Americas Securities LLC purchased a new position in shares of Omega Flex in the 3rd quarter worth about $162,000. Finally, Barclays PLC raised its position in shares of Omega Flex by 213.1% in the 3rd quarter. Barclays PLC now owns 1,287 shares of the industrial products company’s stock worth $184,000 after purchasing an additional 876 shares during the last quarter. 33.85% of the stock is owned by institutional investors and hedge funds.

Omega Flex Company Profile (NASDAQ:OFLX)

Omega Flex, Inc engages in the manufacture and sale of flexible metal hose and accessories. The company offers products to numerous industries, such as steel production, fuel-handling, semi-conductor, medical, pharmaceutical, petrochemical, residential and commercial construction, and power generation.

Further Reading: Quiet Period Expirations

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