BidaskClub upgraded shares of Omega Flex (NASDAQ:OFLX) from a sell rating to a hold rating in a research report released on Saturday.

Shares of Omega Flex (OFLX) opened at $71.85 on Friday. The stock has a market capitalization of $696.95, a price-to-earnings ratio of 45.43 and a beta of 1.31. Omega Flex has a 52 week low of $41.87 and a 52 week high of $74.55.

Omega Flex (NASDAQ:OFLX) last posted its quarterly earnings data on Thursday, October 19th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter. The company had revenue of $24.92 million during the quarter. Omega Flex had a return on equity of 30.39% and a net margin of 15.32%.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Tuesday, December 26th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, December 22nd. Omega Flex’s dividend payout ratio is 57.90%.

Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in Omega Flex by 22.1% during the second quarter. Wells Fargo & Company MN now owns 2,207 shares of the industrial products company’s stock valued at $142,000 after buying an additional 399 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Omega Flex by 88.6% during the second quarter. The Manufacturers Life Insurance Company now owns 2,744 shares of the industrial products company’s stock valued at $177,000 after buying an additional 1,289 shares during the period. GSA Capital Partners LLP bought a new stake in Omega Flex during the third quarter valued at $201,000. Citadel Advisors LLC bought a new stake in Omega Flex during the third quarter valued at $211,000. Finally, Swiss National Bank bought a new stake in Omega Flex during the second quarter valued at $328,000. 24.19% of the stock is owned by institutional investors.

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Omega Flex Company Profile

Omega Flex, Inc is a manufacturer of flexible metal hose. The Company is engaged in a range of different markets, including construction, manufacturing, transportation, petrochemical, pharmaceutical and other industries. It operates through manufacture and sale of flexible metal hose and accessories segment.

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