Omega Flex (NASDAQ:OFLX) Sees Unusually-High Trading Volume

Omega Flex, Inc. (NASDAQ:OFLXGet Free Report) saw an uptick in trading volume on Wednesday . 35,884 shares traded hands during trading, an increase of 216% from the previous session’s volume of 11,346 shares.The stock last traded at $59.40 and had previously closed at $59.09.

Omega Flex Stock Performance

The firm has a fifty day simple moving average of $65.45 and a 200 day simple moving average of $70.17. The company has a market capitalization of $577.25 million, a PE ratio of 29.71 and a beta of 0.36.

Omega Flex (NASDAQ:OFLXGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.42 earnings per share (EPS) for the quarter. Omega Flex had a return on equity of 24.76% and a net margin of 18.03%. The business had revenue of $25.22 million for the quarter.

Omega Flex Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.31%. Omega Flex’s dividend payout ratio is presently 69.47%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Omega Flex in the 1st quarter valued at $30,000. FNY Investment Advisers LLC purchased a new position in shares of Omega Flex in the 4th quarter valued at $37,000. SYSTM Wealth Solutions LLC acquired a new stake in shares of Omega Flex in the 1st quarter worth $124,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Omega Flex in the 1st quarter worth $128,000. Finally, EntryPoint Capital LLC boosted its position in shares of Omega Flex by 577.5% in the 1st quarter. EntryPoint Capital LLC now owns 1,836 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 1,565 shares in the last quarter. 36.06% of the stock is currently owned by hedge funds and other institutional investors.

Omega Flex Company Profile

(Get Free Report)

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.

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