Omega Flex (NASDAQ:OFLX) Sees Large Volume Increase

Omega Flex, Inc. (NASDAQ:OFLX) saw strong trading volume on Wednesday . 46,378 shares were traded during mid-day trading, an increase of 178% from the previous session’s volume of 16,710 shares.The stock last traded at $50.50 and had previously closed at $51.41.

Omega Flex Stock Down 2.2 %

The business’s fifty day moving average is $63.00 and its two-hundred day moving average is $69.04. The stock has a market capitalization of $507.12 million, a PE ratio of 26.59 and a beta of 0.36.

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

Omega Flex Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 26th will be given a $0.34 dividend. The ex-dividend date is Wednesday, June 26th. This is an increase from Omega Flex’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 2.71%. Omega Flex’s dividend payout ratio (DPR) is currently 69.47%.

Institutional Trading of Omega Flex

Institutional investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. bought a new stake in Omega Flex in the first quarter worth $30,000. FNY Investment Advisers LLC bought a new stake in shares of Omega Flex during the fourth quarter worth $37,000. SYSTM Wealth Solutions LLC bought a new stake in shares of Omega Flex during the first quarter worth $124,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Omega Flex during the first quarter worth $128,000. Finally, EntryPoint Capital LLC lifted its position in shares of Omega Flex by 577.5% during the first 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 during the last quarter. 36.06% of the stock is currently owned by institutional investors.

About Omega Flex

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.