Stephen Shea Purchases 1,400 Shares of Omega Flex (NASDAQ:OFLX) Stock

Omega Flex, Inc. (NASDAQ:OFLX) Director Stephen Shea acquired 1,400 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were bought at an average price of $28.44 per share, for a total transaction of $39,816.00. Following the completion of the transaction, the director owned 1,400 shares of the company’s stock, valued at approximately $39,816. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Omega Flex Price Performance

Shares of NASDAQ:OFLX traded down $0.47 during trading on Monday, hitting $27.30. The company had a trading volume of 23,382 shares, compared to its average volume of 30,807. The stock has a market cap of $275.57 million, a price-to-earnings ratio of 17.17 and a beta of 0.40. The company has a fifty day simple moving average of $28.29 and a two-hundred day simple moving average of $31.74. Omega Flex, Inc. has a one year low of $25.58 and a one year high of $48.34.

Omega Flex (NASDAQ:OFLX) last released its quarterly earnings results on Friday, October 31st. The industrial products company reported $0.37 earnings per share for the quarter. The company had revenue of $24.23 million for the quarter. Omega Flex had a return on equity of 19.24% and a net margin of 16.08%.

Omega Flex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 7th. Investors of record on Friday, December 19th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, December 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.0%. Omega Flex’s payout ratio is currently 85.53%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its position in Omega Flex by 51.8% in the 2nd quarter. CWM LLC now owns 1,857 shares of the industrial products company’s stock valued at $60,000 after buying an additional 634 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Omega Flex by 95.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,787 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 875 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Omega Flex by 25.7% during the third quarter. BNP Paribas Financial Markets now owns 4,679 shares of the industrial products company’s stock valued at $146,000 after acquiring an additional 957 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Omega Flex by 19.8% in the third quarter. US Bancorp DE now owns 4,923 shares of the industrial products company’s stock valued at $154,000 after purchasing an additional 814 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in Omega Flex in the first quarter worth approximately $159,000. Hedge funds and other institutional investors own 36.06% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Omega Flex in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Omega Flex has a consensus rating of “Sell”.

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.