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

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

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

Omega Flex Stock Performance

Omega Flex stock opened at $35.98 on Friday. The stock has a 50-day simple moving average of $38.61 and a 200 day simple moving average of $44.61. 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 52 week low of $34.39 and a 52 week high of $75.15.

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

Analyst Upgrades and Downgrades

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.