Omega Flex (NASDAQ:OFLX) Shares Pass Below 200 Day Moving Average – Time to Sell?

Omega Flex, Inc. (NASDAQ:OFLX) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $46.87 and traded as low as $37.60. Omega Flex shares last traded at $38.52, with a volume of 12,873 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Omega Flex from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

Omega Flex Stock Up 1.6 %

The firm’s 50 day simple moving average is $42.25 and its 200 day simple moving average is $46.87. The company has a market cap of $388.67 million, a price-to-earnings ratio of 21.28 and a beta of 0.38.

Omega Flex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Thursday, December 19th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Thursday, December 19th. Omega Flex’s dividend payout ratio is currently 75.14%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OFLX. Cubist Systematic Strategies LLC bought a new stake in shares of Omega Flex during the second quarter valued at about $278,000. Inspire Investing LLC bought a new stake in shares of Omega Flex during the 3rd quarter worth about $864,000. Exchange Traded Concepts LLC acquired a new stake in shares of Omega Flex in the 3rd quarter worth approximately $298,000. Creative Planning bought a new position in shares of Omega Flex in the third quarter valued at approximately $566,000. Finally, US Bancorp DE boosted its holdings in shares of Omega Flex by 38.5% in the third quarter. US Bancorp DE now owns 6,439 shares of the industrial products company’s stock valued at $321,000 after acquiring an additional 1,789 shares in the last quarter. Institutional investors and hedge funds own 36.06% of the company’s stock.

About Omega Flex

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.