Omega Flex, Inc. (OFLX) to Issue Quarterly Dividend of $0.34 on October 8th

Omega Flex, Inc. (NASDAQ:OFLX) declared a quarterly dividend on Wednesday, September 11th, Zacks reports. Investors of record on Thursday, September 26th will be given a dividend of 0.34 per share by the industrial products company on Tuesday, October 8th. This represents a $1.36 annualized dividend and a yield of 2.69%. The ex-dividend date is Thursday, September 26th.

Omega Flex has increased its dividend payment by an average of 5.4% per year over the last three years and has increased its dividend every year for the last 7 years.

Omega Flex Stock Down 0.4 %

NASDAQ OFLX opened at $50.53 on Tuesday. The company has a market capitalization of $509.85 million, a price-to-earnings ratio of 26.59 and a beta of 0.40. Omega Flex has a twelve month low of $43.86 and a twelve month high of $85.92. The stock’s 50-day simple moving average is $48.77 and its two-hundred day simple moving average is $58.25.

Omega Flex (NASDAQ:OFLX) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.45 earnings per share for the quarter. The company 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%.

Analysts Set New Price Targets

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

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.