Omega Flex (NASDAQ:OFLX) Hits New 1-Year Low at $48.54

Omega Flex, Inc. (NASDAQ:OFLX) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $48.54 and last traded at $48.54, with a volume of 340 shares traded. The stock had previously closed at $48.84.

Omega Flex Stock Performance

The stock has a 50 day moving average price of $59.33 and a 200 day moving average price of $66.76. The company has a market cap of $515 million, a P/E ratio of 27.18 and a beta of 0.38.

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

Omega Flex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 26th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, June 26th. This is a positive change from Omega Flex’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.63%. Omega Flex’s payout ratio is 71.58%.

Institutional Investors Weigh In On Omega Flex

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Omega Flex by 1.5% during the first quarter. Vanguard Group Inc. now owns 161,884 shares of the industrial products company’s stock valued at $11,482,000 after buying an additional 2,411 shares in the last quarter. Norden Group LLC purchased a new position in shares of Omega Flex during the first quarter valued at $3,513,000. Sei Investments Co. grew its holdings in shares of Omega Flex by 1.5% during the first quarter. Sei Investments Co. now owns 23,694 shares of the industrial products company’s stock valued at $1,681,000 after buying an additional 348 shares in the last quarter. Cim LLC purchased a new position in shares of Omega Flex during the fourth quarter valued at $296,000. Finally, Virtu Financial LLC purchased a new position in shares of Omega Flex during the fourth quarter valued at $280,000. 36.06% of the stock is owned by institutional investors and hedge funds.

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.