Omega Flex (NASDAQ:OFLX) Reaches New 52-Week High at $97.01

Omega Flex, Inc. (NASDAQ:OFLX) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $97.01 and last traded at $97.01, with a volume of 638 shares traded. The stock had previously closed at $92.39.

Separately, BidaskClub raised Omega Flex from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.52. The firm’s 50 day simple moving average is $80.57 and its 200-day simple moving average is $80.73. The company has a market cap of $926.66 million, a price-to-earnings ratio of 47.56 and a beta of 0.82.

Omega Flex (NASDAQ:OFLX) last released its earnings results on Thursday, July 18th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter. The business had revenue of $26.81 million during the quarter. Omega Flex had a net margin of 17.84% and a return on equity of 29.03%.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Friday, September 20th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, September 19th.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Conestoga Capital Advisors LLC increased its stake in Omega Flex by 4.0% during the second quarter. Conestoga Capital Advisors LLC now owns 4,195 shares of the industrial products company’s stock worth $322,000 after acquiring an additional 160 shares during the last quarter. Swiss National Bank raised its position in shares of Omega Flex by 3.6% during the 2nd quarter. Swiss National Bank now owns 5,700 shares of the industrial products company’s stock worth $438,000 after acquiring an additional 200 shares in the last quarter. Advisor Group Inc. lifted its stake in Omega Flex by 17.7% during the second quarter. Advisor Group Inc. now owns 1,418 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 213 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Omega Flex by 3.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 16,990 shares of the industrial products company’s stock worth $1,306,000 after purchasing an additional 525 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Omega Flex by 60,700.0% in the first quarter. BNP Paribas Arbitrage SA now owns 608 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 607 shares in the last quarter. Hedge funds and other institutional investors own 26.72% of the company’s stock.

About Omega Flex (NASDAQ:OFLX)

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in the United States and internationally. It offers flexible gas piping for use in residential and commercial buildings, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

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