Swiss National Bank Sells 1,297 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

Swiss National Bank lessened its position in shares of Omega Flex, Inc. (NASDAQ:OFLX) by 18.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,703 shares of the industrial products company’s stock after selling 1,297 shares during the period. Swiss National Bank owned 0.06% of Omega Flex worth $239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its stake in Omega Flex by 13.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,776 shares of the industrial products company’s stock valued at $284,000 after acquiring an additional 804 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Omega Flex by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,952 shares of the industrial products company’s stock worth $1,395,000 after purchasing an additional 932 shares in the last quarter. Inspire Investing LLC raised its position in shares of Omega Flex by 10.7% in the fourth quarter. Inspire Investing LLC now owns 19,162 shares of the industrial products company’s stock valued at $804,000 after purchasing an additional 1,856 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Omega Flex by 20.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,630 shares of the industrial products company’s stock valued at $581,000 after buying an additional 1,957 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Omega Flex by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 89,362 shares of the industrial products company’s stock worth $4,461,000 after buying an additional 2,358 shares during the period. Institutional investors own 36.06% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Omega Flex from a “buy” rating to a “hold” rating in a report on Friday, March 7th.

Omega Flex Stock Performance

NASDAQ:OFLX opened at $35.36 on Monday. The business’s fifty day moving average is $38.50 and its 200 day moving average is $44.48. The firm has a market cap of $356.92 million, a price-to-earnings ratio of 19.54 and a beta of 0.26. Omega Flex, Inc. has a 52-week low of $34.39 and a 52-week high of $75.15.

Omega Flex (NASDAQ:OFLX) last announced its quarterly earnings results on Wednesday, March 5th. The industrial products company reported $0.46 earnings per share for the quarter. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%. The firm had revenue of $26.97 million for the quarter.

Omega Flex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Thursday, April 10th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Thursday, April 10th. Omega Flex’s dividend payout ratio is presently 75.98%.

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.