Omega Flex (NASDAQ:OFLX) Sees Large Volume Increase

Omega Flex, Inc. (NASDAQ:OFLX) saw an uptick in trading volume on Tuesday . 13,042 shares were traded during mid-day trading, a decline of 30% from the previous session’s volume of 18,567 shares.The stock last traded at $51.20 and had previously closed at $51.01.

Omega Flex Stock Performance

The firm has a market capitalization of $511.66 million, a price-to-earnings ratio of 26.69 and a beta of 0.38. The stock’s fifty day moving average is $61.03 and its two-hundred day moving average is $67.83.

Omega Flex (NASDAQ:OFLX) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.42 earnings per share for the quarter. Omega Flex had a net margin of 18.03% and a return on equity of 24.76%. The company had revenue of $25.22 million during the quarter.

Omega Flex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Wednesday, June 26th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Wednesday, June 26th. This is a positive change from Omega Flex’s previous quarterly dividend of $0.33. Omega Flex’s dividend payout ratio (DPR) is 71.58%.

Hedge Funds Weigh In On Omega Flex

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Omega Flex by 1.5% in the first quarter. Vanguard Group Inc. now owns 161,884 shares of the industrial products company’s stock worth $11,482,000 after buying an additional 2,411 shares during the last quarter. Norden Group LLC bought a new stake in shares of Omega Flex in the 1st quarter worth about $3,513,000. Sei Investments Co. raised its stake in shares of Omega Flex by 1.5% in the 1st quarter. Sei Investments Co. now owns 23,694 shares of the industrial products company’s stock valued at $1,681,000 after purchasing an additional 348 shares in the last quarter. Cim LLC bought a new position in shares of Omega Flex during the fourth quarter worth about $296,000. Finally, Virtu Financial LLC acquired a new position in Omega Flex in the fourth quarter worth about $280,000. 36.06% of the stock is currently owned by hedge funds and other 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.