Omega Flex (NASDAQ:OFLX) Sees Large Volume Increase

Shares of Omega Flex, Inc. (NASDAQ:OFLX) saw unusually-high trading volume on Wednesday . Approximately 46,378 shares were traded during 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 Up 2.4 %

The company’s fifty day moving average price is $62.33 and its 200 day moving average price is $68.78. The company has a market capitalization of $520.44 million, a P/E ratio of 26.51 and a beta of 0.36.

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

Omega Flex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 26th will be issued a dividend of $0.34 per share. The ex-dividend date is Wednesday, June 26th. This is a boost from Omega Flex’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 2.64%. Omega Flex’s dividend payout ratio (DPR) is currently 71.58%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. bought a new position in Omega Flex in the first quarter valued at approximately $30,000. FNY Investment Advisers LLC bought a new position in Omega Flex in the fourth quarter valued at approximately $37,000. SYSTM Wealth Solutions LLC bought a new position in Omega Flex in the first quarter valued at approximately $124,000. State Board of Administration of Florida Retirement System bought a new position in Omega Flex in the first quarter valued at approximately $128,000. Finally, EntryPoint Capital LLC increased its stake in Omega Flex by 577.5% in the first quarter. EntryPoint Capital LLC now owns 1,836 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 1,565 shares during the last quarter. 36.06% of the stock is owned by institutional investors.

Omega Flex Company Profile

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.