Omega Flex (NASDAQ:OFLX) Stock Crosses Below Two Hundred Day Moving Average of $72.95

Omega Flex, Inc. (NASDAQ:OFLX)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $72.95 and traded as low as $69.91. Omega Flex shares last traded at $70.79, with a volume of 8,633 shares changing hands.

Omega Flex Price Performance

The company has a fifty day moving average price of $70.75 and a 200 day moving average price of $72.95. The stock has a market cap of $714.55 million, a P/E ratio of 34.53 and a beta of 0.37.

Omega Flex (NASDAQ:OFLX) last announced its quarterly earnings results on Wednesday, March 6th. The industrial products company reported $0.48 EPS for the quarter. Omega Flex had a net margin of 18.63% and a return on equity of 27.24%. The business had revenue of $28.15 million during the quarter.

Omega Flex Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th will be given a $0.33 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.32 annualized dividend and a yield of 1.86%. Omega Flex’s payout ratio is 64.39%.

Institutional Trading of Omega Flex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new position in shares of Omega Flex during the third quarter valued at approximately $36,000. FNY Investment Advisers LLC purchased a new position in Omega Flex during the 4th quarter worth $37,000. UBS Group AG grew its stake in shares of Omega Flex by 236.2% in the 2nd quarter. UBS Group AG now owns 595 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 418 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Omega Flex by 240.0% in the first quarter. Tower Research Capital LLC TRC now owns 663 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 468 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Omega Flex during the second quarter valued at about $81,000. 36.06% of the stock is owned by institutional investors.

Omega Flex Company Profile

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.