Cardinal Capital Management Buys 12,069 Shares of Omega Flex, Inc. $OFLX

Key Points

• Cardinal Capital Management increased its stake in Omega Flex by 45.0%, acquiring an additional 12,069 shares, bringing its total ownership to 38,904 shares valued at approximately $1.27 million.
• Omega Flex's stock recently reported a 1.4% decline, with market trading at $33.75, and the company has a market cap of $340.67 million.
• The company announced a quarterly dividend of $0.34 per share to be paid on October 8, reflecting an annualized dividend yield of 4.0%.

Cardinal Capital Management boosted its stake in Omega Flex, Inc. (NASDAQ:OFLX - Free Report) by 45.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,904 shares of the industrial products company's stock after acquiring an additional 12,069 shares during the period. Cardinal Capital Management owned 0.39% of Omega Flex worth $1,273,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Jane Street Group LLC boosted its holdings in Omega Flex by 119.0% in the first quarter. Jane Street Group LLC now owns 14,080 shares of the industrial products company's stock valued at $490,000 after acquiring an additional 7,651 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Omega Flex by 28.2% in the first quarter. Goldman Sachs Group Inc. now owns 58,834 shares of the industrial products company's stock valued at $2,046,000 after acquiring an additional 12,928 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Omega Flex in the first quarter valued at $292,000. PDT Partners LLC boosted its holdings in Omega Flex by 7.3% in the first quarter. PDT Partners LLC now owns 6,791 shares of the industrial products company's stock valued at $236,000 after acquiring an additional 462 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Omega Flex in the first quarter valued at $159,000. Institutional investors own 36.06% of the company's stock.

Omega Flex Stock Down 1.4%

NASDAQ:OFLX opened at $33.75 on Wednesday. The stock has a market cap of $340.67 million, a P/E ratio of 20.09 and a beta of 0.28. The firm's fifty day simple moving average is $33.88 and its 200 day simple moving average is $33.66. Omega Flex, Inc. has a twelve month low of $28.12 and a twelve month high of $57.81.

Omega Flex (NASDAQ:OFLX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.41 earnings per share for the quarter. Omega Flex had a net margin of 16.91% and a return on equity of 20.48%. The business had revenue of $25.52 million for the quarter.

Omega Flex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Thursday, September 25th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Thursday, September 25th. Omega Flex's payout ratio is 80.95%.

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.

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