Millennium Management LLC Sells 26,787 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

Millennium Management LLC trimmed its position in Omega Flex, Inc. (NASDAQ:OFLX - Free Report) by 39.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,473 shares of the industrial products company's stock after selling 26,787 shares during the quarter. Millennium Management LLC owned about 0.40% of Omega Flex worth $1,699,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in shares of Omega Flex by 0.8% in the fourth quarter. Renaissance Technologies LLC now owns 52,680 shares of the industrial products company's stock worth $2,211,000 after purchasing an additional 400 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Omega Flex by 1.4% in the fourth quarter. Northern Trust Corp now owns 36,525 shares of the industrial products company's stock worth $1,533,000 after purchasing an additional 499 shares during the last quarter. Barclays PLC increased its holdings in shares of Omega Flex by 10.0% in the fourth quarter. Barclays PLC now owns 7,098 shares of the industrial products company's stock worth $298,000 after purchasing an additional 648 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Omega Flex by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 90,131 shares of the industrial products company's stock worth $3,783,000 after purchasing an additional 769 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Omega Flex by 16.0% in the fourth quarter. Bank of America Corp DE now owns 6,507 shares of the industrial products company's stock worth $273,000 after purchasing an additional 897 shares during the last quarter. 36.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Omega Flex Trading Up 0.2%

Shares of NASDAQ OFLX traded up $0.06 during trading hours on Wednesday, reaching $32.21. The stock had a trading volume of 17,029 shares, compared to its average volume of 25,844. The firm has a market cap of $325.13 million, a price-to-earnings ratio of 17.80 and a beta of 0.36. The business's fifty day moving average price is $31.97 and its two-hundred day moving average price is $38.18. Omega Flex, Inc. has a 52-week low of $28.12 and a 52-week high of $61.88.

Omega Flex (NASDAQ:OFLX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter. The firm had revenue of $23.33 million during the quarter. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%.

Omega Flex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Thursday, April 10th were issued a $0.34 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.22%. Omega Flex's payout ratio is 79.07%.

Omega Flex Profile

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.