Omega Flex, Inc. (NASDAQ:OFLX – Get Free Report) shares saw an uptick in trading volume on Tuesday . 10,427 shares traded hands during trading, a decline of 52% from the previous session’s volume of 21,509 shares.The stock last traded at $51.41 and had previously closed at $50.95.
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.
Read Our Latest Research Report on OFLX
Omega Flex Price Performance
Omega Flex (NASDAQ:OFLX – Get Free Report) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.45 earnings per share for the quarter. Omega Flex had a net margin of 18.18% and a return on equity of 24.24%. The firm had revenue of $24.62 million for the quarter.
Omega Flex Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 26th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.36 dividend on an annualized basis and a yield of 2.64%. Omega Flex’s payout ratio is 71.58%.
Hedge Funds Weigh In On Omega Flex
A number of hedge funds have recently made changes to their positions in the stock. Sei Investments Co. increased its position in shares of Omega Flex by 1.5% during the first quarter. Sei Investments Co. now owns 23,694 shares of the industrial products company’s stock worth $1,681,000 after buying an additional 348 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Omega Flex during the 1st quarter valued at about $30,000. EntryPoint Capital LLC grew its stake in Omega Flex by 577.5% during the first quarter. EntryPoint Capital LLC now owns 1,836 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 1,565 shares during the period. American Century Companies Inc. increased its holdings in Omega Flex by 50.2% in the second quarter. American Century Companies Inc. now owns 5,006 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 1,673 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC acquired a new position in Omega Flex in the first quarter valued at approximately $124,000. 36.06% of the stock is currently owned by institutional investors.
About Omega Flex
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.
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