Omega Flex, Inc. (NASDAQ:OFLX)’s stock price reached 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. The stock had previously closed at $92.39.

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

The stock has a 50-day simple moving average of $80.57 and a 200 day simple moving average of $80.73. The company has a current ratio of 4.52, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. 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 posted its quarterly earnings results on Thursday, July 18th. The industrial products company reported $0.39 earnings per share for the quarter. The business had revenue of $26.81 million for the quarter. Omega Flex had a return on equity of 29.03% and a net margin of 17.84%.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Friday, September 20th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 19th.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Omega Flex by 12.2% in the 2nd quarter. BlackRock Inc. now owns 188,131 shares of the industrial products company’s stock worth $14,449,000 after buying an additional 20,506 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Omega Flex by 1.3% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,395,380 shares of the industrial products company’s stock valued at $105,770,000 after acquiring an additional 18,147 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Omega Flex in the 2nd quarter valued at $320,000. Susquehanna International Group LLP purchased a new stake in shares of Omega Flex in the 2nd quarter valued at $272,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Omega Flex by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 297,568 shares of the industrial products company’s stock valued at $16,090,000 after acquiring an additional 3,518 shares during 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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