News Spotlight: Omega Flex (NASDAQ:OFLX)

Omega Flex (NASDAQ:OFLX) changed 2.56% to recent value of $89.65. The stock transacted 21084 shares during most recent day however it has an average volume of 8.98K shares. It spotted trading -6.61% off 52-week high price. On the other end, the stock has been noted 75.72% away from the low price over the last 52-weeks.

 On Sept. 06, 2019, Omega Flex (NASDAQ:OFLX) notified that the Board of Directors declared a regular quarterly dividend of $0.28 per share payable on October 2, 2019 to shareholders of record on September 20, 2019.  In determining the amount of a regular quarterly dividend, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

This news release contains forward-looking statements, which are subject to inherent uncertainties which are difficult to predict, and may be beyond the ability of our control.

Certain statements in this news release constitute forward-looking statements with the meaning of the Private Securities Litigation Reform act of 1995, that are not historical facts but rather reflect our current expectations concerning future results and events.  The words believes, expects, intends, plans,anticipates, hopes, likely, will, and similar expressions identify such forward-looking statements.  Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company (including its subsidiaries and affiliates) or industry results, to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements.

Readers are cautioned not to place undue reliance on these forward-looking statements which reflect management’s view only as of the date of this news release.  We undertake no obligation to publicly release the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, conditions or circumstances.

 OFLX has a gross margin of 62.50% and an operating margin of 23.00% while its profit margin remained 17.80% for the last 12 months. Its earnings per share (EPS) expected to touch remained 29.60% for this year.

 The company has 9.95M of outstanding shares and 2.88M shares were floated in the market. According to the most recent quarter its current ratio was 4.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of 9.49% from the mean of 20 days, 15.47% from mean of 50 days SMA and performed 21.84% from mean of 200 days price. Company’s performance for the week was 8.01%, 17.96% for month and YTD performance remained 65.80%.

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