Omega Flex (NASDAQ:OFLX) Issues Earnings Results

Omega Flex (NASDAQ:OFLX) issued its earnings results on Wednesday. The industrial products company reported $0.46 earnings per share for the quarter, Zacks reports. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%.

Omega Flex Trading Up 1.2 %

NASDAQ:OFLX traded up $0.44 during mid-day trading on Wednesday, hitting $36.35. The company had a trading volume of 24,513 shares, compared to its average volume of 19,715. The business has a fifty day simple moving average of $39.37 and a 200-day simple moving average of $45.51. Omega Flex has a 1 year low of $34.39 and a 1 year high of $75.14. The firm has a market capitalization of $366.92 million, a price-to-earnings ratio of 20.08 and a beta of 0.38.

Omega Flex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Thursday, December 19th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Thursday, December 19th. Omega Flex’s dividend payout ratio (DPR) is presently 75.14%.

Wall Street Analysts Forecast Growth

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

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.