Omega Flex, Inc. (NASDAQ:OFLX) shares crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $83.31 and traded as low as $75.52. Omega Flex shares last traded at $75.52, with a volume of 1 shares.
Separately, BidaskClub lowered Omega Flex from a “buy” rating to a “hold” rating in a report on Monday, May 13th.
The stock’s fifty day moving average price is $83.31. The company has a current ratio of 6.21, a quick ratio of 5.44 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $749.72 million, a price-to-earnings ratio of 36.96 and a beta of 0.90.
Omega Flex (NASDAQ:OFLX) last released its quarterly earnings results on Thursday, April 18th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter. Omega Flex had a return on equity of 31.33% and a net margin of 18.56%. The business had revenue of $26.79 million during the quarter.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Monday, June 24th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, June 21st. This is a positive change from Omega Flex’s previous quarterly dividend of $0.24.
A number of large investors have recently added to or reduced their stakes in OFLX. Advisor Group Inc. raised its position in Omega Flex by 18.3% during the fourth quarter. Advisor Group Inc. now owns 1,203 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 186 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Omega Flex by 60,700.0% during the first quarter. BNP Paribas Arbitrage SA now owns 608 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 607 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Omega Flex during the fourth quarter worth $46,000. Metropolitan Life Insurance Co NY acquired a new position in Omega Flex during the first quarter worth $78,000. Finally, MetLife Investment Advisors LLC acquired a new position in Omega Flex during the first quarter worth $109,000. 27.16% of the stock is owned by institutional investors and hedge funds.
Omega Flex Company Profile (NASDAQ:OFLX)
Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in the United States and internationally. It offers flexible gas piping for use in residential and commercial buildings, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.
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