Exchange Traded Concepts LLC Invests $298,000 in Omega Flex, Inc. (NASDAQ:OFLX)

Exchange Traded Concepts LLC purchased a new position in shares of Omega Flex, Inc. (NASDAQ:OFLX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,972 shares of the industrial products company’s stock, valued at approximately $298,000. Exchange Traded Concepts LLC owned about 0.06% of Omega Flex as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of OFLX. Vanguard Group Inc. increased 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 valued at $11,482,000 after acquiring an additional 2,411 shares during the last quarter. Norden Group LLC acquired a new position in shares of Omega Flex in the 1st quarter valued at about $3,513,000. Renaissance Technologies LLC raised its stake in Omega Flex by 44.0% during the second 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. Sei Investments Co. boosted its stake in Omega Flex by 1.5% in the first quarter. Sei Investments Co. now owns 23,694 shares of the industrial products company’s stock valued at $1,681,000 after acquiring an additional 348 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Omega Flex by 207.1% during the second quarter. Marshall Wace LLP now owns 20,759 shares of the industrial products company’s stock valued at $1,065,000 after purchasing an additional 13,999 shares during the last quarter. 36.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Omega Flex Stock Down 0.5 %

OFLX stock opened at $50.36 on Monday. The firm’s 50-day simple moving average is $48.36 and its 200 day simple moving average is $55.40. The stock has a market cap of $508.13 million, a PE ratio of 26.51 and a beta of 0.39. Omega Flex, Inc. has a fifty-two week low of $43.86 and a fifty-two week high of $85.92.

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

Omega Flex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders 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 dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, September 26th. Omega Flex’s dividend payout ratio (DPR) is 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.