Squarepoint Ops LLC Reduces Holdings in Omega Flex, Inc. (NASDAQ:OFLX)

Squarepoint Ops LLC lessened its position in Omega Flex, Inc. (NASDAQ:OFLX - Free Report) by 52.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,408 shares of the industrial products company's stock after selling 12,836 shares during the period. Squarepoint Ops LLC owned approximately 0.11% of Omega Flex worth $479,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in 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 worth $45,128,000 after acquiring an additional 24,466 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Omega Flex during the 4th quarter worth $690,000. Bank of New York Mellon Corp grew its stake in shares of Omega Flex by 34.5% during the 4th quarter. Bank of New York Mellon Corp now owns 59,459 shares of the industrial products company's stock worth $2,495,000 after purchasing an additional 15,242 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Omega Flex by 14.1% in the 4th quarter. Wells Fargo & Company MN now owns 75,279 shares of the industrial products company's stock valued at $3,159,000 after purchasing an additional 9,311 shares in the last quarter. Finally, Townsquare Capital LLC increased its holdings in shares of Omega Flex by 33.4% in the 4th quarter. Townsquare Capital LLC now owns 27,206 shares of the industrial products company's stock valued at $1,142,000 after purchasing an additional 6,810 shares in the last quarter. Institutional investors and hedge funds own 36.06% of the company's stock.

Omega Flex Price Performance

Shares of OFLX stock traded up $0.32 during midday trading on Friday, reaching $31.81. 34,418 shares of the company traded hands, compared to its average volume of 25,862. The firm's 50 day simple moving average is $31.84 and its two-hundred day simple moving average is $38.00. The firm has a market cap of $321.09 million, a PE ratio of 17.57 and a beta of 0.36. Omega Flex, Inc. has a 1-year low of $28.12 and a 1-year high of $61.75.

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

Omega Flex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Thursday, April 10th were given a $0.34 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.36 annualized dividend and a dividend yield of 4.28%. Omega Flex's dividend payout ratio is presently 79.07%.

Analyst Upgrades and Downgrades

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

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.