Kayne Anderson Rudnick Investment Management LLC Boosts Stake in Omega Flex, Inc. (NASDAQ:OFLX)

Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Omega Flex, Inc. (NASDAQ:OFLX - Free Report) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,075,240 shares of the industrial products company's stock after purchasing an additional 24,466 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 10.66% of Omega Flex worth $45,128,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in Omega Flex by 51.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,512 shares of the industrial products company's stock worth $675,000 after acquiring an additional 4,578 shares during the period. Barclays PLC boosted its stake in Omega Flex by 405.9% during the third quarter. Barclays PLC now owns 6,450 shares of the industrial products company's stock valued at $323,000 after buying an additional 5,175 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Omega Flex during the fourth quarter worth about $690,000. Bank of New York Mellon Corp raised its position 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 valued at $2,495,000 after buying an additional 15,242 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Omega Flex by 14.6% during the 4th quarter. American Century Companies Inc. now owns 7,327 shares of the industrial products company's stock valued at $308,000 after buying an additional 933 shares in the last quarter. Institutional investors own 36.06% of the company's stock.

Omega Flex Stock Performance

OFLX traded up $1.30 on Thursday, hitting $36.00. 5,140 shares of the company were exchanged, compared to its average volume of 25,735. Omega Flex, Inc. has a 12 month low of $28.12 and a 12 month high of $67.56. The firm has a fifty day simple moving average of $33.61 and a two-hundred day simple moving average of $40.15. The stock has a market capitalization of $363.38 million, a PE ratio of 19.85 and a beta of 0.36.

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

Omega Flex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders 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 annualized dividend and a yield of 3.78%. Omega Flex's dividend payout ratio (DPR) is presently 79.07%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Omega Flex from a "hold" rating to a "buy" rating in a report on Tuesday, April 8th.

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.