Omega Flex (NASDAQ:OFLX) Shares Gap Up to $122.50

Omega Flex, Inc. (NASDAQ:OFLXGet Rating) shares gapped up prior to trading on Tuesday . The stock had previously closed at $122.50, but opened at $126.64. Omega Flex shares last traded at $126.64, with a volume of 3 shares trading hands.

Separately, StockNews.com initiated coverage on shares of Omega Flex in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 3.15. The business’s 50 day simple moving average is $137.35. The firm has a market cap of $1.27 billion, a PE ratio of 47.30 and a beta of 0.31.

Omega Flex (NASDAQ:OFLXGet Rating) last released its earnings results on Wednesday, February 16th. The industrial products company reported $0.75 earnings per share for the quarter. Omega Flex had a net margin of 20.15% and a return on equity of 47.75%. The firm had revenue of $35.46 million during the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 25th. Shareholders of record on Monday, April 11th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, April 8th. This represents a $1.20 annualized dividend and a yield of 0.95%. Omega Flex’s payout ratio is 46.33%.

In other Omega Flex news, Director Stewart B. Reed sold 40,517 shares of the business’s stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $137.72, for a total transaction of $5,580,001.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 43.00% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Cim LLC grew its position in shares of Omega Flex by 3.6% during the first quarter. Cim LLC now owns 2,757 shares of the industrial products company’s stock worth $358,000 after acquiring an additional 97 shares during the last quarter. Deutsche Bank AG grew its position in shares of Omega Flex by 4.0% during the third quarter. Deutsche Bank AG now owns 2,572 shares of the industrial products company’s stock worth $368,000 after acquiring an additional 98 shares during the last quarter. Bennett Selby Investments LP grew its position in shares of Omega Flex by 1.2% during the first quarter. Bennett Selby Investments LP now owns 8,399 shares of the industrial products company’s stock worth $1,091,000 after acquiring an additional 100 shares during the last quarter. Precision Wealth Strategies LLC grew its position in shares of Omega Flex by 8.5% during the fourth quarter. Precision Wealth Strategies LLC now owns 2,203 shares of the industrial products company’s stock worth $280,000 after acquiring an additional 173 shares during the last quarter. Finally, Citigroup Inc. grew its position in Omega Flex by 100.5% in the 3rd quarter. Citigroup Inc. now owns 409 shares of the industrial products company’s stock valued at $58,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 34.02% of the company’s stock.

About Omega Flex (NASDAQ:OFLX)

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, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

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