Omega Flex (NASDAQ:OFLX) Issues Quarterly Earnings Results

Omega Flex (NASDAQ:OFLX) released its quarterly earnings results 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 Trading Up 1.2 %

NASDAQ:OFLX traded up $0.44 on Wednesday, reaching $36.35. 24,513 shares of the stock traded hands, compared to its average volume of 19,715. The firm has a market capitalization of $366.92 million, a price-to-earnings 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. The company’s 50 day moving average is $39.37 and its 200-day moving average is $45.51.

Omega Flex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors 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 is currently 75.14%.

Analyst Ratings Changes

Separately, StockNews.com downgraded 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.