Omega Flex, Inc. Plans Quarterly Dividend of $0.34 (NASDAQ:OFLX)

Omega Flex, Inc. (NASDAQ:OFLX) declared a quarterly dividend on Thursday, March 27th, RTT News reports. Shareholders of record on Thursday, April 10th will be given a dividend of 0.34 per share by the industrial products company on Tuesday, April 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 3.78%.

Omega Flex has increased its dividend payment by an average of 4.6% per year over the last three years.

Omega Flex Price Performance

Shares of Omega Flex stock opened at $35.98 on Friday. The firm has a market cap of $363.18 million, a price-to-earnings ratio of 19.88 and a beta of 0.26. The stock’s 50-day moving average is $38.61 and its 200-day moving average is $44.61. Omega Flex has a one year low of $34.39 and a one year high of $75.15.

Omega Flex (NASDAQ:OFLX) last released its earnings results on Wednesday, March 5th. The industrial products company reported $0.46 EPS for the quarter. The firm had revenue of $26.97 million for the quarter. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Omega Flex from a “buy” rating to a “hold” rating in a report on Friday, March 7th.

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.