JPMorgan Chase & Co. Has $675,000 Stock Holdings in Omega Flex, Inc. (NASDAQ:OFLX)

JPMorgan Chase & Co. increased its holdings in shares of Omega Flex, Inc. (NASDAQ:OFLX) by 51.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 13,512 shares of the industrial products company’s stock after purchasing an additional 4,578 shares during the period. JPMorgan Chase & Co. owned approximately 0.13% of Omega Flex worth $675,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OFLX. Inspire Investing LLC acquired a new position in shares of Omega Flex during the 3rd quarter worth about $864,000. Marshall Wace LLP raised its holdings in Omega Flex by 207.1% in the 2nd quarter. Marshall Wace LLP now owns 20,759 shares of the industrial products company’s stock valued at $1,065,000 after acquiring an additional 13,999 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Omega Flex by 44.0% in the 2nd quarter. Renaissance Technologies LLC now owns 37,695 shares of the industrial products company’s stock valued at $1,933,000 after acquiring an additional 11,515 shares in the last quarter. Creative Planning acquired a new position in Omega Flex in the 3rd quarter valued at approximately $566,000. Finally, PDT Partners LLC acquired a new position in Omega Flex in the 3rd quarter valued at approximately $316,000. Institutional investors and hedge funds own 36.06% of the company’s stock.

Omega Flex Price Performance

NASDAQ OFLX opened at $41.97 on Tuesday. The firm has a market cap of $423.65 million, a PE ratio of 23.19 and a beta of 0.39. Omega Flex, Inc. has a one year low of $37.27 and a one year high of $75.28. The stock’s 50 day simple moving average is $44.29 and its 200 day simple moving average is $47.77.

Omega Flex (NASDAQ:OFLX) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.46 EPS for the quarter. The business had revenue of $24.88 million for the quarter. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%.

Omega Flex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Thursday, December 19th were given a $0.34 dividend. The ex-dividend date was Thursday, December 19th. This represents a $1.36 dividend on an annualized basis and a yield of 3.24%. Omega Flex’s payout ratio is 75.14%.

Analyst Upgrades and Downgrades

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

Omega Flex 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.