Omega Flex, Inc. (NASDAQ:OFLX) Declares Quarterly Dividend of $0.34

Omega Flex, Inc. (NASDAQ:OFLX) declared a quarterly dividend on Thursday, March 27th, RTT News reports. Shareholders of record on Thursday, April 10th will be given a dividend of 0.34 per share by the industrial products company on Tuesday, April 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 3.78%.

Omega Flex has increased its dividend payment by an average of 4.6% annually over the last three years.

Omega Flex Trading Down 2.3 %

Shares of OFLX stock traded down $0.85 during trading hours on Thursday, hitting $35.98. The company’s stock had a trading volume of 21,392 shares, compared to its average volume of 22,238. The stock has a market cap of $363.18 million, a PE ratio of 19.88 and a beta of 0.26. Omega Flex has a 12-month low of $34.39 and a 12-month high of $75.14. The company has a 50 day moving average of $38.71 and a 200 day moving average of $44.67.

Omega Flex (NASDAQ:OFLX) last posted its quarterly earnings results on Wednesday, March 5th. The industrial products company reported $0.46 EPS for the quarter. The company had revenue of $26.97 million for the quarter. Omega Flex had a net margin of 17.71% and a return on equity of 22.68%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Omega Flex from a “buy” rating to a “hold” rating in a report on Friday, March 7th.

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.