Omega Flex (NASDAQ:OFLX) Shares Pass Above Two Hundred Day Moving Average of $104.49

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 (NASDAQ:OFLX – Get Rating) last issued its earnings results on Wednesday, February 22nd. The industrial products company reported $0.61 earnings per share (EPS) for the quarter. Omega Flex had a return on equity of 34.42% and a net margin of 19.26%. The business had revenue of $30.82 million during the quarter.

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

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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.