Omega Flex, Inc. (NASDAQ:OFLX) Raises Dividend to $0.32 Per Share

Omega Flex, Inc. (NASDAQ:OFLXGet Rating) declared a quarterly dividend on Friday, June 10th, Zacks reports. Investors of record on Friday, June 24th will be paid a dividend of 0.32 per share by the industrial products company on Tuesday, July 5th. This represents a $1.28 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, June 23rd. This is a boost from Omega Flex’s previous quarterly dividend of $0.30.

Omega Flex has raised its dividend by an average of 7.9% annually over the last three years and has raised its dividend annually for the last 2 consecutive years.

Shares of Omega Flex stock opened at $115.68 on Wednesday. Omega Flex has a 52 week low of $97.16 and a 52 week high of $163.27. The company has a 50 day moving average price of $111.51 and a 200 day moving average price of $126.53.

Omega Flex (NASDAQ:OFLXGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The industrial products company reported $0.54 earnings per share (EPS) for the quarter. Omega Flex had a net margin of 19.46% and a return on equity of 43.67%. The company had revenue of $31.29 million during the quarter.

OFLX has been the subject of several recent research reports. StockNews.com initiated coverage on shares of Omega Flex in a report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet cut shares of Omega Flex from a “b” rating to a “c+” rating in a research note on Thursday, April 21st.

A number of large investors have recently modified their holdings of the business. Advisory Services Network LLC acquired a new position in shares of Omega Flex during the first quarter worth about $226,000. Royal Bank of Canada raised its stake in shares of Omega Flex by 5.7% during the first quarter. Royal Bank of Canada now owns 25,311 shares of the industrial products company’s stock worth $3,287,000 after purchasing an additional 1,364 shares during the last quarter. State Street Corp raised its stake in shares of Omega Flex by 1.2% during the first quarter. State Street Corp now owns 61,533 shares of the industrial products company’s stock worth $7,991,000 after purchasing an additional 706 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Omega Flex by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,495 shares of the industrial products company’s stock worth $2,922,000 after purchasing an additional 476 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Omega Flex by 219.9% during the first quarter. US Bancorp DE now owns 4,511 shares of the industrial products company’s stock worth $585,000 after purchasing an additional 3,101 shares during the last quarter.

About Omega Flex (Get Rating)

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, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

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Dividend History for Omega Flex (NASDAQ:OFLX)

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