Key Points
- Director David Evans purchased 384 shares on December 10 at an average price of $30.64, increasing his ownership by 38.4% to 1,384 shares (about $42,406), as disclosed in an SEC filing.
- Omega Flex declared a quarterly dividend of $0.34 per share (annualized $1.36), implying a 4.2% yield
- Shares traded up 5.3% to $32.13 on higher-than-average volume; the company has a market cap of ~$324.2M and a P/E of 20.2, but analysts (including Weiss Ratings) and MarketBeat consensus currently rate the stock as a "Sell".
Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report) Director David Evans purchased 384 shares of the company's stock in a transaction dated Wednesday, December 10th. The stock was purchased at an average price of $30.64 per share, with a total value of $11,765.76. Following the transaction, the director owned 1,384 shares of the company's stock, valued at approximately $42,405.76. This represents a 38.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Omega Flex Stock Up 5.3%
Shares of Omega Flex stock traded up $1.62 on Friday, hitting $32.13. The company's stock had a trading volume of 52,522 shares, compared to its average volume of 35,408. The company has a market capitalization of $324.19 million, a P/E ratio of 20.21 and a beta of 0.40. Omega Flex, Inc. has a 52-week low of $25.58 and a 52-week high of $46.30. The firm has a fifty day moving average price of $28.16 and a 200-day moving average price of $31.66.
Omega Flex (NASDAQ:OFLX - Get Free Report) last announced its quarterly earnings results on Friday, October 31st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter. The company had revenue of $24.23 million for the quarter. Omega Flex had a net margin of 16.08% and a return on equity of 19.24%.
Omega Flex Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 7th. Shareholders of record on Friday, December 19th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, December 19th. This represents a $1.36 annualized dividend and a yield of 4.2%. Omega Flex's dividend payout ratio (DPR) is presently 85.53%.
Institutional Investors Weigh In On Omega Flex
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen LLC purchased a new position in Omega Flex during the first quarter worth about $848,000. Penn Mutual Asset Management increased its stake in shares of Omega Flex by 7.9% during the 1st quarter. Penn Mutual Asset Management now owns 9,600 shares of the industrial products company's stock valued at $334,000 after acquiring an additional 700 shares during the last quarter. Cardinal Capital Management lifted its holdings in shares of Omega Flex by 45.0% during the 2nd quarter. Cardinal Capital Management now owns 38,904 shares of the industrial products company's stock worth $1,273,000 after acquiring an additional 12,069 shares during the period. American Century Companies Inc. lifted its holdings in shares of Omega Flex by 4.6% during the 1st quarter. American Century Companies Inc. now owns 7,667 shares of the industrial products company's stock worth $267,000 after acquiring an additional 340 shares during the period. Finally, PDT Partners LLC grew its holdings in Omega Flex by 7.3% in the first quarter. PDT Partners LLC now owns 6,791 shares of the industrial products company's stock valued at $236,000 after purchasing an additional 462 shares during the period. Hedge funds and other institutional investors own 36.06% of the company's stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a "sell (d)" rating on shares of Omega Flex in a research report on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Omega Flex presently has a consensus rating of "Sell".
View Our Latest Stock Analysis on OFLX
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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