Omega Flex (NASDAQ:OFLX) Stock Breaks Below 200-Day Moving Average – Should You Sell?

Omega Flex, Inc. (NASDAQ:OFLX)’s share price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $29.45 and traded as low as $25.76. Omega Flex shares last traded at $26.23, with a volume of 49,512 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Omega Flex in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has an average rating of “Sell”.

Omega Flex Price Performance

The business has a 50 day moving average of $26.75 and a 200 day moving average of $29.39. The firm has a market capitalization of $258.20 million, a price-to-earnings ratio of 21.50 and a beta of 0.44.

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

Omega Flex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Wednesday, September 30th. Omega Flex’s dividend payout ratio (DPR) is currently 114.29%.

Institutional Trading of Omega Flex

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

Omega Flex Company Profile

Omega Flex, Inc (NASDAQ: OFLX) develops and manufactures flexible metal piping systems. The company is best known for corrugated stainless steel tubing (CSST) used in natural gas and propane distribution systems for residential, commercial and industrial applications.

Its product portfolio includes TracPipe and CounterStrike flexible gas piping systems, which are designed to simplify installation compared with traditional rigid piping. Omega Flex also offers products for specialized applications, including DoubleTrac containment systems and MediTrac medical gas piping.