26,835 Shares in Omega Flex, Inc. (NASDAQ:OFLX) Acquired by Cardinal Capital Management

Cardinal Capital Management bought a new stake in Omega Flex, Inc. (NASDAQ:OFLX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 26,835 shares of the industrial products company's stock, valued at approximately $933,000. Cardinal Capital Management owned about 0.27% of Omega Flex as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. Azzad Asset Management Inc. ADV acquired a new stake in Omega Flex in the 1st quarter valued at about $337,000. GAMMA Investing LLC raised its holdings in Omega Flex by 4,271.4% in the 1st quarter. GAMMA Investing LLC now owns 1,530 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 1,495 shares during the period. Two Sigma Advisers LP raised its holdings in Omega Flex by 5.5% in the 4th quarter. Two Sigma Advisers LP now owns 7,700 shares of the industrial products company's stock valued at $323,000 after acquiring an additional 400 shares during the period. State of Wyoming bought a new position in Omega Flex in the 4th quarter valued at about $135,000. Finally, Citadel Advisors LLC raised its holdings in Omega Flex by 5.0% in the 4th quarter. Citadel Advisors LLC now owns 23,806 shares of the industrial products company's stock valued at $999,000 after acquiring an additional 1,124 shares during the period. 36.06% of the stock is currently owned by institutional investors and hedge funds.

Omega Flex Price Performance

Omega Flex stock traded down $0.05 during trading hours on Friday, hitting $32.32. The company had a trading volume of 89,718 shares, compared to its average volume of 25,710. The firm has a market cap of $326.11 million, a PE ratio of 18.79 and a beta of 0.36. Omega Flex, Inc. has a one year low of $28.12 and a one year high of $57.81. The firm has a 50-day moving average of $31.84 and a 200 day moving average of $36.61.

Omega Flex (NASDAQ:OFLX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.35 earnings per share for the quarter. Omega Flex had a net margin of 17.40% and a return on equity of 21.09%. The firm had revenue of $23.33 million for the quarter.

Omega Flex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.34 per share. The ex-dividend date is Monday, June 30th. This represents a $1.36 annualized dividend and a dividend yield of 4.21%. Omega Flex's dividend payout ratio is presently 79.07%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Omega Flex from a "buy" rating to a "hold" rating in a report on Thursday, May 15th.

Insider Transactions at Omega Flex

In related news, Chairman Kevin R. Hoben sold 972 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $31.55, for a total transaction of $30,666.60. Following the sale, the chairman now owns 898,533 shares in the company, valued at approximately $28,348,716.15. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 65.20% of the company's stock.

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.