Barclays PLC Increases Stake in Omega Flex, Inc. (NASDAQ:OFLX)

Barclays PLC boosted its stake in Omega Flex, Inc. (NASDAQ:OFLX) by 405.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,450 shares of the industrial products company’s stock after buying an additional 5,175 shares during the period. Barclays PLC owned 0.06% of Omega Flex worth $323,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Inspire Investing LLC purchased a new position in shares of Omega Flex in the 3rd quarter valued at approximately $864,000. Marshall Wace LLP raised its holdings in Omega Flex by 207.1% in the second quarter. Marshall Wace LLP now owns 20,759 shares of the industrial products company’s stock worth $1,065,000 after purchasing an additional 13,999 shares in the last quarter. Renaissance Technologies LLC lifted its position 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 valued at $1,933,000 after buying an additional 11,515 shares during the period. Creative Planning purchased a new position in Omega Flex during the third quarter valued at $566,000. Finally, PDT Partners LLC bought a new stake in shares of Omega Flex during the 3rd quarter valued at $316,000. 36.06% of the stock is owned by institutional investors.

Omega Flex Price Performance

Shares of OFLX opened at $40.77 on Monday. The stock has a market cap of $411.53 million, a P/E ratio of 22.52 and a beta of 0.39. The business’s 50 day moving average price is $45.53 and its 200-day moving average price is $48.09. Omega Flex, Inc. has a 52 week low of $37.27 and a 52 week high of $76.50.

Omega Flex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Thursday, December 19th were issued a $0.34 dividend. The ex-dividend date was Thursday, December 19th. This represents a $1.36 annualized dividend and a yield of 3.34%. Omega Flex’s dividend payout ratio (DPR) is presently 75.14%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Omega Flex from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

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.