Dimensional Fund Advisors LP Sells 3,368 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

Dimensional Fund Advisors LP decreased its position in Omega Flex, Inc. (NASDAQ:OFLX) by 1.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 252,090 shares of the industrial products company’s stock after selling 3,368 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.50% of Omega Flex worth $12,927,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. bought a new position in shares of Omega Flex in the 1st quarter worth approximately $30,000. State Board of Administration of Florida Retirement System purchased a new stake in Omega Flex during the first quarter valued at approximately $128,000. EntryPoint Capital LLC raised its position in Omega Flex by 577.5% in the first quarter. EntryPoint Capital LLC now owns 1,836 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 1,565 shares during the period. Norden Group LLC purchased a new position in shares of Omega Flex during the 1st quarter worth $249,000. Finally, American Century Companies Inc. increased its stake 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 purchasing an additional 1,673 shares in the last quarter. 36.06% of the stock is owned by hedge funds and other institutional investors.

Omega Flex Trading Up 1.6 %

Shares of NASDAQ:OFLX opened at $49.00 on Friday. The stock has a 50 day moving average of $48.28 and a 200 day moving average of $56.99. The company has a market cap of $494.41 million, a PE ratio of 25.79 and a beta of 0.39. Omega Flex, Inc. has a 12-month low of $43.86 and a 12-month high of $85.92.

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

Omega Flex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 26th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, September 26th. Omega Flex’s dividend payout ratio is currently 71.58%.

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.

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.