Omega Flex (NASDAQ:OFLX) Shares Gap Up to $145.70

Omega Flex, Inc. (NASDAQ:OFLX)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $145.70, but opened at $151.75. Omega Flex shares last traded at $150.00, with a volume of 4 shares trading hands.

The company has a market cap of $1.51 billion, a P/E ratio of 60.21 and a beta of 0.36. The firm has a 50 day moving average price of $152.30 and a two-hundred day moving average price of $152.26.

Omega Flex (NASDAQ:OFLX) last posted its quarterly earnings results on Friday, July 16th. The industrial products company reported $0.61 earnings per share for the quarter. The company had revenue of $31.97 million during the quarter. Omega Flex had a return on equity of 51.16% and a net margin of 20.11%.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 4th. Stockholders of record on Monday, September 27th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, September 24th. This represents a $1.20 annualized dividend and a dividend yield of 0.80%.

Several hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Omega Flex by 3.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,679 shares of the industrial products company’s stock valued at $393,000 after acquiring an additional 86 shares during the last quarter. UBS Group AG boosted its position in shares of Omega Flex by 23.5% during the 1st quarter. UBS Group AG now owns 946 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 180 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Omega Flex by 11.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,780 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 189 shares during the last quarter. State of Wisconsin Investment Board boosted its position in shares of Omega Flex by 11.1% during the 1st quarter. State of Wisconsin Investment Board now owns 2,000 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 200 shares during the last quarter. Finally, Cim LLC boosted its position in shares of Omega Flex by 10.3% during the 2nd quarter. Cim LLC now owns 2,191 shares of the industrial products company’s stock valued at $343,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 36.98% of the company’s stock.

Omega Flex Company Profile (NASDAQ:OFLX)

Omega Flex, Inc engages in the manufacture and sale of flexible metal hose and accessories. The company offers products to numerous industries, such as steel production, fuel-handling, semi-conductor, medical, pharmaceutical, petrochemical, residential and commercial construction, and power generation.

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