Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $45.88 and traded as low as $34.59. Omega Flex shares last traded at $35.63, with a volume of 19,706 shares trading hands.
Analyst Ratings Changes
Separately, StockNews.com downgraded Omega Flex from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th.
Get Our Latest Research Report on OFLX
Omega Flex Price Performance
The company has a fifty day moving average price of $39.62 and a 200 day moving average price of $45.67. The company has a market cap of $365.71 million, a PE ratio of 20.02 and a beta of 0.38.
Omega Flex Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Thursday, December 19th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Thursday, December 19th. Omega Flex's payout ratio is currently 75.14%.
Institutional Trading of Omega Flex
A number of institutional investors have recently made changes to their positions in OFLX. Kayne Anderson Rudnick Investment Management LLC boosted its position in Omega Flex by 2.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,075,240 shares of the industrial products company's stock valued at $45,128,000 after acquiring an additional 24,466 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Omega Flex during the fourth quarter valued at approximately $690,000. Bank of New York Mellon Corp grew its holdings in Omega Flex by 34.5% during the fourth quarter. Bank of New York Mellon Corp now owns 59,459 shares of the industrial products company's stock valued at $2,495,000 after purchasing an additional 15,242 shares during the period. Creative Planning purchased a new stake in shares of Omega Flex in the third quarter worth $566,000. Finally, Wells Fargo & Company MN grew its position in shares of Omega Flex by 14.1% during the fourth quarter. Wells Fargo & Company MN now owns 75,279 shares of the industrial products company's stock worth $3,159,000 after purchasing an additional 9,311 shares in the last quarter. Hedge funds and other institutional investors own 36.06% of the company's stock.
About Omega Flex
(
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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