Omega Flex (NASDAQ:OFLX) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Omega Flex (NASDAQ:OFLX) from a buy rating to a hold rating in a report issued on Tuesday morning.

Omega Flex Trading Down 1.7 %

NASDAQ:OFLX opened at $52.28 on Tuesday. The business’s 50-day simple moving average is $50.36 and its 200-day simple moving average is $53.36. Omega Flex has a fifty-two week low of $43.86 and a fifty-two week high of $85.92.

Omega Flex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 26th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Thursday, September 26th. Omega Flex’s dividend payout ratio is 75.14%.

Institutional Investors Weigh In On Omega Flex

Institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. raised its stake in shares of Omega Flex by 196.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,236 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 819 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in Omega Flex in the 1st quarter valued at approximately $128,000. EntryPoint Capital LLC lifted its stake in Omega Flex by 577.5% in the 1st quarter. EntryPoint Capital LLC now owns 1,836 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 1,565 shares in the last quarter. American Century Companies Inc. boosted its position in Omega Flex by 50.2% during the 2nd quarter. American Century Companies Inc. now owns 5,006 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 1,673 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Omega Flex in the second quarter valued at approximately $271,000. 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.