Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report)'s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $48.38 and traded as low as $37.88. Omega Flex shares last traded at $40.07, with a volume of 31,224 shares trading hands.
Analysts Set New Price Targets
Separately, StockNews.com cut shares of Omega Flex from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th.
View Our Latest Stock Report on OFLX
Omega Flex Price Performance
The firm has a market capitalization of $416.11 million, a price-to-earnings ratio of 22.78 and a beta of 0.39. The stock has a 50 day moving average price of $46.63 and a two-hundred day moving average price of $48.38.
Omega Flex Announces Dividend
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 $0.34 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $1.36 annualized dividend and a yield of 3.30%. Omega Flex's dividend payout ratio is presently 75.14%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in shares of Omega Flex by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 89,362 shares of the industrial products company's stock valued at $4,461,000 after purchasing an additional 2,358 shares in the last quarter. State Street Corp boosted its holdings in Omega Flex by 3.4% in the third quarter. State Street Corp now owns 74,196 shares of the industrial products company's stock valued at $3,729,000 after purchasing an additional 2,433 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Omega Flex by 44.0% during the second quarter. Renaissance Technologies LLC now owns 37,695 shares of the industrial products company's stock worth $1,933,000 after purchasing an additional 11,515 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Omega Flex by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,952 shares of the industrial products company's stock worth $1,395,000 after buying an additional 932 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in Omega Flex by 207.1% in the second quarter. Marshall Wace LLP now owns 20,759 shares of the industrial products company's stock valued at $1,065,000 after acquiring an additional 13,999 shares during the last quarter. 36.06% of the stock is owned by institutional investors and hedge funds.
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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