Key Points
- Director Stephen Shea purchased 1,400 shares on Dec. 4 at an average price of $28.44 for a total of $39,816, a transaction disclosed in an SEC filing.
- Quarterly dividend of $0.34 per share was announced (ex-dividend and record date Dec. 19), payable Jan. 7, implying a $1.36 annualized payout and a 5.0% yield with an 85.53% payout ratio.
- Market view and performance: OFLX opened at $27.30 and trades below its 200‑day moving average within a 52‑week range of $25.58–$48.34, and it carries a MarketBeat consensus rating of "Sell" after Weiss Ratings reissued a sell rating.
Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report) Director Stephen Shea purchased 1,400 shares of the company's stock in a transaction on Thursday, December 4th. The stock was bought at an average cost of $28.44 per share, for a total transaction of $39,816.00. Following the acquisition, the director directly owned 1,400 shares of the company's stock, valued at $39,816. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Omega Flex Stock Down 1.7%
OFLX opened at $27.30 on Tuesday. The firm has a market cap of $275.46 million, a PE ratio of 17.17 and a beta of 0.40. The business has a fifty day simple moving average of $28.21 and a 200-day simple moving average of $31.70. Omega Flex, Inc. has a fifty-two week low of $25.58 and a fifty-two week high of $48.34.
Omega Flex (NASDAQ:OFLX - Get Free Report) last announced its earnings results on Friday, October 31st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter. Omega Flex had a return on equity of 19.24% and a net margin of 16.08%.The company had revenue of $24.23 million for the quarter.
Omega Flex Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 7th. Shareholders of record on Friday, December 19th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, December 19th. This represents a $1.36 dividend on an annualized basis and a yield of 5.0%. Omega Flex's dividend payout ratio is currently 85.53%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its position in Omega Flex by 95.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,787 shares of the industrial products company's stock worth $62,000 after acquiring an additional 875 shares during the period. Nuveen LLC purchased a new stake in shares of Omega Flex in the first quarter worth approximately $848,000. American Century Companies Inc. boosted its holdings in shares of Omega Flex by 4.6% during the first quarter. American Century Companies Inc. now owns 7,667 shares of the industrial products company's stock worth $267,000 after purchasing an additional 340 shares during the period. Penn Mutual Asset Management grew its position in Omega Flex by 7.9% during the first quarter. Penn Mutual Asset Management now owns 9,600 shares of the industrial products company's stock valued at $334,000 after purchasing an additional 700 shares in the last quarter. Finally, Trexquant Investment LP increased its stake in Omega Flex by 62.9% in the 1st quarter. Trexquant Investment LP now owns 12,201 shares of the industrial products company's stock valued at $424,000 after buying an additional 4,713 shares during the period. 36.06% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Omega Flex in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Omega Flex presently has a consensus rating of "Sell".
Get Our Latest Analysis on Omega Flex
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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