Omega Flex (NASDAQ:OFLX) Releases Earnings Results

Omega Flex (NASDAQ:OFLX) announced its earnings results on Wednesday. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, Zacks reports. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%.

Omega Flex Stock Up 1.2 %

OFLX stock traded up $0.44 during midday trading on Wednesday, reaching $36.35. The company had a trading volume of 24,513 shares, compared to its average volume of 19,715. The stock has a 50 day moving average price of $39.37 and a 200 day moving average price of $45.51. Omega Flex has a fifty-two week low of $34.39 and a fifty-two week high of $75.14. The firm has a market capitalization of $366.92 million, a PE ratio of 20.08 and a beta of 0.38.

Omega Flex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Thursday, December 19th were paid a $0.34 dividend. The ex-dividend date was Thursday, December 19th. This represents a $1.36 dividend on an annualized basis and a yield of 3.74%. Omega Flex’s dividend payout ratio (DPR) is 75.14%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Omega Flex from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

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.