Omega Flex, Inc. (OFLX) to Issue Quarterly Dividend of $0.34 on April 21st

Omega Flex, Inc. (NASDAQ:OFLX) announced a quarterly dividend on Wednesday, March 25th. Investors of record on Thursday, April 9th will be paid a dividend of 0.34 per share by the industrial products company on Tuesday, April 21st. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Thursday, April 9th.

Omega Flex has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 7 consecutive years.

Omega Flex Stock Performance

Omega Flex stock opened at $30.05 on Friday. The firm has a market cap of $303.20 million, a price-to-earnings ratio of 20.44 and a beta of 0.42. Omega Flex has a 52-week low of $25.58 and a 52-week high of $37.92. The firm has a 50 day moving average price of $33.45 and a two-hundred day moving average price of $31.02.

Omega Flex (NASDAQ:OFLX) last posted its quarterly earnings data on Thursday, March 12th. The industrial products company reported $0.34 earnings per share for the quarter. The company had revenue of $25.21 million during the quarter. Omega Flex had a net margin of 15.08% and a return on equity of 17.68%.

Insiders Place Their Bets

In other Omega Flex news, CEO Dean W. Rivest acquired 1,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were purchased at an average cost of $29.50 per share, with a total value of $29,500.00. Following the completion of the purchase, the chief executive officer owned 1,000 shares of the company’s stock, valued at approximately $29,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 65.20% of the company’s stock.

Institutional Investors Weigh In On Omega Flex

A number of institutional investors and hedge funds have recently made changes to their positions in OFLX. State of Tennessee Department of Treasury increased its holdings in Omega Flex by 90.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 16,999 shares of the industrial products company’s stock worth $500,000 after purchasing an additional 8,081 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Omega Flex in the fourth quarter valued at approximately $250,000. Trexquant Investment LP bought a new position in shares of Omega Flex in the fourth quarter valued at approximately $561,000. Corsair Capital Management L.P. purchased a new position in shares of Omega Flex during the fourth quarter valued at approximately $590,000. Finally, Russell Investments Group Ltd. grew its holdings in Omega Flex by 65.2% during the fourth quarter. Russell Investments Group Ltd. now owns 1,120 shares of the industrial products company’s stock worth $33,000 after buying an additional 442 shares in the last quarter. Institutional investors and hedge funds own 36.06% of the company’s stock.

About Omega Flex

Omega Flex, Inc designs, manufactures and distributes flexible metal tubing and related products that enable the safe and efficient conveyance of natural gas and other hydrocarbon fuels. The company’s engineered solutions offer leak-resistant connections and installation flexibility, serving original equipment manufacturers, distributors and end-users across residential, commercial and industrial markets.

Its product portfolio includes corrugated stainless steel tubing (CSST), stainless steel hose assemblies, mechanical connectors, fittings, leak detection equipment and specialized installation tools.