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

Omega Flex, Inc. (NASDAQ:OFLX) announced a quarterly dividend on Thursday, June 11th. Shareholders of record on Tuesday, June 23rd will be given a dividend of 0.34 per share by the industrial products company on Tuesday, July 7th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, June 23rd.

Omega Flex has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 7 years.

Omega Flex Trading Up 1.4%

Omega Flex stock opened at $30.92 on Friday. The business’s fifty day simple moving average is $31.14 and its two-hundred day simple moving average is $31.45. Omega Flex has a 12 month low of $25.58 and a 12 month high of $37.92. The company has a market capitalization of $311.98 million, a price-to-earnings ratio of 23.25 and a beta of 0.47.

Omega Flex (NASDAQ:OFLX) last released its earnings results on Friday, May 1st. The industrial products company reported $0.21 EPS for the quarter. Omega Flex had a return on equity of 15.94% and a net margin of 13.60%.The business had revenue of $23.09 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Omega Flex from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Omega Flex Company Profile

Omega Flex, Inc designs, manufactures and distributes flexible metal tubing and related products that enable the safe and efficient conveyance of natural gas and other hydrocarbon fuels. The company’s engineered solutions offer leak-resistant connections and installation flexibility, serving original equipment manufacturers, distributors and end-users across residential, commercial and industrial markets.

Its product portfolio includes corrugated stainless steel tubing (CSST), stainless steel hose assemblies, mechanical connectors, fittings, leak detection equipment and specialized installation tools.