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

Omega Flex, Inc. (NASDAQ:OFLX) declared a quarterly dividend on Thursday, March 27th, RTT News reports. Investors of record on Thursday, April 10th will be given a dividend of 0.34 per share by the industrial products company on Tuesday, April 22nd. This represents a $1.36 annualized dividend and a yield of 3.78%.

Omega Flex has increased its dividend by an average of 4.6% annually over the last three years.

Omega Flex Trading Down 2.3 %

NASDAQ OFLX traded down $0.85 on Thursday, reaching $35.98. 21,392 shares of the company were exchanged, compared to its average volume of 22,238. The stock has a market capitalization of $363.18 million, a P/E ratio of 19.88 and a beta of 0.26. Omega Flex has a fifty-two week low of $34.39 and a fifty-two week high of $75.14. The business’s fifty day moving average price is $38.71 and its 200 day moving average price is $44.67.

Omega Flex (NASDAQ:OFLX) last issued its quarterly earnings results on Wednesday, March 5th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter. Omega Flex had a net margin of 17.71% and a return on equity of 22.68%. The company had revenue of $26.97 million for the quarter.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Omega Flex from a “buy” rating to a “hold” rating in a research report on Friday, March 7th.

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.