Omega Flex (NASDAQ:OFLX) Posts Quarterly Earnings Results

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

Omega Flex Price Performance

Shares of NASDAQ OFLX traded up $0.44 during mid-day trading on Wednesday, reaching $36.35. 24,513 shares of the company’s stock traded hands, compared to its average volume of 19,715. The business has a 50-day simple moving average of $39.37 and a 200 day simple moving average of $45.51. The stock has a market cap of $366.92 million, a P/E ratio of 20.08 and a beta of 0.38. Omega Flex has a 1-year low of $34.39 and a 1-year high of $75.14.

Omega Flex Announces Dividend

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

Analysts Set New Price Targets

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

About Omega Flex

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.