Jane Street Group LLC Sells 11,546 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

Jane Street Group LLC cut its holdings in shares of Omega Flex, Inc. (NASDAQ:OFLX - Free Report) by 64.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,429 shares of the industrial products company's stock after selling 11,546 shares during the period. Jane Street Group LLC owned approximately 0.06% of Omega Flex worth $270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Omega Flex by 2.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,075,240 shares of the industrial products company's stock valued at $45,128,000 after purchasing an additional 24,466 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Omega Flex by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 241,717 shares of the industrial products company's stock worth $10,145,000 after buying an additional 1,421 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Omega Flex by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 90,131 shares of the industrial products company's stock worth $3,783,000 after acquiring an additional 769 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Omega Flex by 14.1% in the fourth quarter. Wells Fargo & Company MN now owns 75,279 shares of the industrial products company's stock valued at $3,159,000 after acquiring an additional 9,311 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Omega Flex by 34.5% during the fourth quarter. Bank of New York Mellon Corp now owns 59,459 shares of the industrial products company's stock valued at $2,495,000 after acquiring an additional 15,242 shares during the period. 36.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Omega Flex Trading Down 2.2%

OFLX stock traded down $0.72 during trading hours on Thursday, hitting $31.49. 18,172 shares of the stock traded hands, compared to its average volume of 25,790. The stock has a 50-day simple moving average of $31.91 and a 200 day simple moving average of $38.14. The company has a market cap of $317.86 million, a P/E ratio of 17.40 and a beta of 0.36. Omega Flex, Inc. has a one year low of $28.12 and a one year high of $61.75.

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 return on equity of 22.68% and a net margin of 17.71%. The business had revenue of $23.33 million during the quarter.

Omega Flex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Thursday, April 10th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.36 dividend on an annualized basis and a yield of 4.32%. Omega Flex's payout ratio is 79.07%.

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.