Omega Flex (NASDAQ:OFLX) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Omega Flex, Inc. (NASDAQ:OFLX)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $54.66 and traded as low as $48.67. Omega Flex shares last traded at $49.92, with a volume of 13,527 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Omega Flex from a “hold” rating to a “buy” rating in a report on Friday, August 9th.

Omega Flex Stock Performance

The firm’s 50-day moving average is $48.88 and its two-hundred day moving average is $54.36.

Omega Flex (NASDAQ:OFLX) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.45 EPS for the quarter. The business had revenue of $24.62 million during the quarter. Omega Flex had a return on equity of 24.24% and a net margin of 18.18%.

Omega Flex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 26th were issued a $0.34 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.36 dividend on an annualized basis and a yield of 2.70%. Omega Flex’s payout ratio is currently 71.58%.

Institutional Trading of Omega Flex

Several large investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. grew its holdings in Omega Flex by 196.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,236 shares of the industrial products company’s stock valued at $63,000 after buying an additional 819 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of Omega Flex in the first quarter valued at about $128,000. EntryPoint Capital LLC increased its position in Omega Flex by 577.5% during the first quarter. EntryPoint Capital LLC now owns 1,836 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 1,565 shares during the last quarter. Norden Group LLC purchased a new position in Omega Flex during the first quarter worth about $249,000. Finally, American Century Companies Inc. grew its stake in shares of Omega Flex by 50.2% in the 2nd quarter. American Century Companies Inc. now owns 5,006 shares of the industrial products company’s stock valued at $257,000 after buying an additional 1,673 shares during the period. Hedge funds and other institutional investors own 36.06% of the company’s stock.

Omega Flex Company Profile

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.