Omega Flex (NASDAQ:OFLX) Sees Large Volume Increase

Shares of Omega Flex, Inc. (NASDAQ:OFLX) saw an uptick in trading volume on Friday . 4,378 shares were traded during mid-day trading, a decline of 50% from the previous session’s volume of 8,775 shares.The stock last traded at $66.27 and had previously closed at $64.90.

Omega Flex Trading Up 1.0 %

The firm has a market cap of $661.70 million, a P/E ratio of 34.16 and a beta of 0.37. The business’s fifty day simple moving average is $68.48 and its 200-day simple moving average is $70.97.

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

Omega Flex Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.01%. Omega Flex’s dividend payout ratio (DPR) is currently 69.47%.

Institutional Trading of Omega Flex

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Omega Flex in the first quarter worth approximately $30,000. FNY Investment Advisers LLC purchased a new position in Omega Flex during the fourth quarter valued at approximately $37,000. SYSTM Wealth Solutions LLC purchased a new position in Omega Flex during the first quarter valued at approximately $124,000. State Board of Administration of Florida Retirement System purchased a new position in Omega Flex during the first quarter valued at approximately $128,000. Finally, EntryPoint Capital LLC lifted its holdings in shares of Omega Flex by 577.5% in the first quarter. EntryPoint Capital LLC now owns 1,836 shares of the industrial products company’s stock worth $130,000 after buying an additional 1,565 shares in the last quarter. 36.06% of the stock is currently 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.