Omega Flex, Inc. (NASDAQ:OFLX) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its holdings in shares of Omega Flex, Inc. (NASDAQ:OFLX) by 4.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,157 shares of the industrial products company’s stock after selling 668 shares during the period. Daiwa Securities Group Inc. owned approximately 0.15% of Omega Flex worth $777,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of OFLX. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Omega Flex in the 1st quarter valued at $30,000. SYSTM Wealth Solutions LLC acquired a new position in shares of Omega Flex in the first quarter valued at about $124,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Omega Flex in the first quarter worth about $128,000. EntryPoint Capital LLC lifted its holdings in shares of 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 period. Finally, Norden Group LLC purchased a new stake in Omega Flex in the first quarter valued at approximately $249,000. Institutional investors and hedge funds own 36.06% of the company’s stock.

Analyst Ratings Changes

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

Omega Flex Stock Up 1.9 %

Omega Flex stock opened at $50.23 on Monday. Omega Flex, Inc. has a 52 week low of $43.86 and a 52 week high of $87.86. The firm has a market cap of $506.82 million, a price-to-earnings ratio of 26.44 and a beta of 0.40. The business’s 50-day moving average price is $48.73 and its 200 day moving average price is $59.02.

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

Omega Flex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 26th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.36 dividend on an annualized basis and a yield of 2.71%. Omega Flex’s payout ratio is 71.58%.

About Omega Flex

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.