Omega Flex, Inc. to Issue Dividend of $0.33 (NASDAQ:OFLX)

Omega Flex, Inc. (NASDAQ:OFLXGet Free Report) announced a dividend on Tuesday, April 2nd, investing.com reports. Investors of record on Wednesday, April 10th will be paid a dividend of 0.33 per share by the industrial products company on Wednesday, April 24th. This represents a yield of 1.86%. The ex-dividend date of this dividend is Tuesday, April 9th.

Omega Flex has raised its dividend by an average of 5.4% annually over the last three years and has increased its dividend every year for the last 3 years.

Omega Flex Price Performance

NASDAQ OFLX opened at $72.10 on Tuesday. The stock has a market capitalization of $727.49 million, a PE ratio of 35.17 and a beta of 0.37. The business has a 50 day simple moving average of $70.91 and a two-hundred day simple moving average of $73.34. Omega Flex has a 1-year low of $63.43 and a 1-year high of $117.63.

Omega Flex (NASDAQ:OFLXGet Free Report) last released its quarterly earnings results on Wednesday, March 6th. The industrial products company reported $0.48 earnings per share for the quarter. The business had revenue of $28.15 million during the quarter. Omega Flex had a return on equity of 27.24% and a net margin of 18.63%.

Institutional Investors Weigh In On Omega Flex

A number of institutional investors and hedge funds have recently modified their holdings of OFLX. Citadel Advisors LLC lifted its stake in shares of Omega Flex by 262.5% during the 2nd quarter. Citadel Advisors LLC now owns 34,815 shares of the industrial products company’s stock worth $3,613,000 after acquiring an additional 25,210 shares during the last quarter. Comerica Bank bought a new stake in Omega Flex during the 3rd quarter valued at $1,966,000. BlackRock Inc. raised its position in Omega Flex by 6.6% during the 2nd quarter. BlackRock Inc. now owns 302,351 shares of the industrial products company’s stock valued at $31,378,000 after purchasing an additional 18,649 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Omega Flex by 40.3% in the 1st quarter. Ameriprise Financial Inc. now owns 40,251 shares of the industrial products company’s stock worth $4,486,000 after acquiring an additional 11,558 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Omega Flex by 77.4% in the 4th quarter. Sei Investments Co. now owns 25,666 shares of the industrial products company’s stock worth $2,395,000 after acquiring an additional 11,200 shares in the last quarter. 36.06% of the stock is owned by institutional investors.

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; 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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