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

Omega Flex, Inc. (NASDAQ:OFLX) declared a quarterly dividend on Friday, September 18th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.34 per share by the industrial products company on Wednesday, October 14th. This represents a $1.36 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Wednesday, September 30th.

Omega Flex has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 7 years.

Omega Flex Price Performance

NASDAQ OFLX opened at $25.54 on Monday. The company’s 50 day moving average is $27.85 and its 200-day moving average is $29.70. Omega Flex has a 12-month low of $24.86 and a 12-month high of $37.92. The firm has a market cap of $257.70 million, a P/E ratio of 21.46 and a beta of 0.45.

Omega Flex (NASDAQ:OFLX) last announced its quarterly earnings results on Thursday, August 13th. The industrial products company reported $0.27 EPS for the quarter. The company had revenue of $24.06 million for the quarter. Omega Flex had a net margin of 12.27% and a return on equity of 14.26%.

Institutional Investors Weigh In On Omega Flex

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in Omega Flex during the 2nd quarter worth approximately $1,727,000. BlackRock Inc. purchased a new stake in Omega Flex in the 2nd quarter worth approximately $8,714,000. Punch & Associates Investment Management Inc. bought a new position in Omega Flex in the 2nd quarter valued at $1,900,000. Principle Wealth Partners LLC bought a new position in Omega Flex in the 2nd quarter valued at $6,036,000. Finally, Harber Asset Management LLC purchased a new position in shares of Omega Flex during the 2nd quarter valued at $2,016,000. 36.06% of the stock is owned by hedge funds and other institutional investors.

Omega Flex Company Profile

Omega Flex, Inc is a manufacturer of flexible metal tubing and related products used primarily in gas piping applications. The company’s products are designed to provide an alternative to rigid piping and are used to distribute natural gas and propane in residential, commercial, and industrial buildings.

Its product portfolio includes corrugated stainless steel tubing systems marketed under brands such as TracPipe and CounterStrike, along with associated fittings, manifolds, termination components, and installation accessories.