Omega Flex, Inc. (NASDAQ:OFLX) Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lowered its position in Omega Flex, Inc. (NASDAQ:OFLX) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,724 shares of the industrial products company’s stock after selling 785 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Omega Flex were worth $485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norden Group LLC acquired a new stake in shares of Omega Flex in the 1st quarter worth approximately $3,513,000. Renaissance Technologies LLC grew its holdings in shares of Omega Flex by 44.0% in the 2nd quarter. Renaissance Technologies LLC now owns 37,695 shares of the industrial products company’s stock worth $1,933,000 after acquiring an additional 11,515 shares during the period. Vanguard Group Inc. grew its holdings in shares of Omega Flex by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 161,884 shares of the industrial products company’s stock worth $11,482,000 after acquiring an additional 2,411 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Omega Flex by 196.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,236 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 819 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Omega Flex by 50.2% in the 2nd quarter. American Century Companies Inc. now owns 5,006 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 1,673 shares during the period. Institutional investors and hedge funds own 36.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

Omega Flex Stock Performance

Shares of NASDAQ:OFLX opened at $48.11 on Wednesday. The business’s fifty day moving average price is $48.10 and its two-hundred day moving average price is $56.58. The stock has a market cap of $485.43 million, a PE ratio of 25.32 and a beta of 0.39. Omega Flex, Inc. has a one year low of $43.86 and a one year high of $85.92.

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

Omega Flex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Thursday, September 26th. Omega Flex’s dividend payout ratio (DPR) is presently 71.58%.

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.