BidaskClub upgraded shares of Omega Flex (NASDAQ:OFLX) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning, BidAskClub reports.

OFLX opened at $99.02 on Friday. The company has a market capitalization of $989.95 million, a price-to-earnings ratio of 50.81 and a beta of 0.82. The company has a quick ratio of 3.94, a current ratio of 4.52 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $82.93 and a 200-day moving average price of $81.35. Omega Flex has a twelve month low of $51.02 and a twelve month high of $99.40.

Omega Flex (NASDAQ:OFLX) last posted its earnings results on Thursday, July 18th. The industrial products company reported $0.39 earnings per share for the quarter. The firm 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 announced 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. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.12 annualized dividend and a dividend yield of 1.13%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP purchased a new position in shares of Omega Flex in the second quarter worth about $272,000. Morgan Stanley grew its stake in Omega Flex by 34.9% during the second quarter. Morgan Stanley now owns 7,220 shares of the industrial products company’s stock valued at $555,000 after acquiring an additional 1,869 shares in the last quarter. Paloma Partners Management Co purchased a new position in Omega Flex during the second quarter valued at approximately $200,000. BlackRock Inc. grew its stake in Omega Flex by 12.2% during the second quarter. BlackRock Inc. now owns 188,131 shares of the industrial products company’s stock valued at $14,449,000 after acquiring an additional 20,506 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in Omega Flex during the second quarter valued at approximately $320,000. Hedge funds and other institutional investors own 26.70% of the company’s stock.

About Omega Flex

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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