Omega Flex, Inc. $OFLX Stock Holdings Lowered by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC reduced its stake in Omega Flex by 59.5%, now owning 46,168 shares valued at approximately $1.606 million.
• Corporate insiders hold 65.20% of the company's stock, and Chairman Kevin R. Hoben sold 972 shares for about $30,666.
• Omega Flex reported earnings of $0.41 per share for the last quarter and has announced a quarterly dividend of $0.34, yielding about 4.1%.

Neuberger Berman Group LLC trimmed its holdings in shares of Omega Flex, Inc. (NASDAQ:OFLX - Free Report) by 59.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,168 shares of the industrial products company's stock after selling 67,772 shares during the period. Neuberger Berman Group LLC owned about 0.46% of Omega Flex worth $1,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OFLX. GAMMA Investing LLC raised its stake in shares of Omega Flex by 4,271.4% during the first quarter. GAMMA Investing LLC now owns 1,530 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 1,495 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake 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. Bank of America Corp DE raised its stake in shares of Omega Flex by 16.0% during the fourth quarter. Bank of America Corp DE now owns 6,507 shares of the industrial products company's stock valued at $273,000 after purchasing an additional 897 shares during the period. Azzad Asset Management Inc. ADV purchased a new stake in shares of Omega Flex during the first quarter valued at approximately $337,000. Finally, Geode Capital Management LLC raised its stake in shares of Omega Flex by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 90,131 shares of the industrial products company's stock valued at $3,783,000 after purchasing an additional 769 shares during the period. 36.06% of the stock is owned by institutional investors and hedge funds.

Omega Flex Price Performance

OFLX traded down $0.1650 during trading on Wednesday, hitting $33.6650. The company had a trading volume of 11,330 shares, compared to its average volume of 32,565. The company has a market cap of $339.68 million, a PE ratio of 19.97 and a beta of 0.31. The business has a 50-day moving average of $33.55 and a 200-day moving average of $34.14. Omega Flex, Inc. has a 1-year low of $28.12 and a 1-year high of $57.81.

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

Omega Flex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 30th were paid a dividend of $0.34 per share. The ex-dividend date was Monday, June 30th. This represents a $1.36 annualized dividend and a yield of 4.0%. Omega Flex's payout ratio is presently 80.95%.

Insiders Place Their Bets

In other Omega Flex news, Chairman Kevin R. Hoben sold 972 shares of the business's stock in a transaction 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 completion of the sale, the chairman owned 898,533 shares in the company, valued at $28,348,716.15. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 65.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Omega Flex Company 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.