Omega Flex said on March 28, 2023 that its board of directors declared a regular quarterly dividend of $0.32 per share ($1.28 annualized). Previously, the company paid $0.32 per share.
Shares must be purchased before the ex-div date of April 6, 2023 to qualify for the dividend. Shareholders of record as of April 10, 2023 will receive the payment on April 24, 2023.
At the current share price of $108.84 / share, the stock's dividend yield is 1.18%. Looking back five years and taking a sample every week, the average dividend yield has been 1.11%, the lowest has been 0.62%, and the highest has been 1.99%. The standard deviation of yields is 0.29 (n=235).
The current dividend yield is 0.23 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.55. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.14%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 219 funds or institutions reporting positions in Omega Flex. This is a decrease of 2 owner(s) or 0.90% in the last quarter. Average portfolio weight of all funds dedicated to OFLX is 0.09%, an increase of 9.91%. Total shares owned by institutions decreased in the last three months by 0.03% to 5,658K shares.
What are Large Shareholders Doing?
Kayne Anderson Rudnick Investment Management holds 1,140K shares representing 11.30% ownership of the company. In it's prior filing, the firm reported owning 1,170K shares, representing a decrease of 2.59%. The firm decreased its portfolio allocation in OFLX by 45.34% over the last quarter.
PSGAX - Virtus KAR Small-Cap Growth Fund holds 830K shares representing 8.23% ownership of the company. In it's prior filing, the firm reported owning 861K shares, representing a decrease of 3.72%. The firm increased its portfolio allocation in OFLX by 7.49% over the last quarter.
Conestoga Capital Advisors holds 545K shares representing 5.40% ownership of the company. In it's prior filing, the firm reported owning 548K shares, representing a decrease of 0.49%. The firm decreased its portfolio allocation in OFLX by 4.13% over the last quarter.
Neuberger Berman Group holds 472K shares representing 4.68% ownership of the company. In it's prior filing, the firm reported owning 470K shares, representing an increase of 0.39%. The firm decreased its portfolio allocation in OFLX by 99.95% over the last quarter.
CCASX - Conestoga Small Cap Fund Investors Class holds 373K shares representing 3.70% ownership of the company. No change in the last quarter.
Omega Flex Background Information
(This description is provided by the company.)
Omeega Flex since 1975, supplying quality engineered flexible metal hose products that meet demanding industrial, commercial and residential applications requiring engineering innovation and experience
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
