Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Omega Flex, Inc. (NASDAQ:OFLX - Free Report) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,075,240 shares of the industrial products company's stock after purchasing an additional 24,466 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 10.66% of Omega Flex worth $45,128,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in OFLX. Norden Group LLC bought a new position in shares of Omega Flex in the fourth quarter valued at about $243,000. Exchange Traded Concepts LLC raised its stake in shares of Omega Flex by 13.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,776 shares of the industrial products company's stock worth $284,000 after acquiring an additional 804 shares during the last quarter. Barclays PLC lifted its position in shares of Omega Flex by 10.0% during 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 in the last quarter. American Century Companies Inc. grew its stake in shares of Omega Flex by 14.6% during the fourth quarter. American Century Companies Inc. now owns 7,327 shares of the industrial products company's stock valued at $308,000 after purchasing an additional 933 shares during the last quarter. Finally, Trexquant Investment LP increased its holdings in shares of Omega Flex by 41.2% in the fourth quarter. Trexquant Investment LP now owns 7,488 shares of the industrial products company's stock valued at $314,000 after purchasing an additional 2,186 shares in the last quarter. 36.06% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com upgraded Omega Flex from a "hold" rating to a "buy" rating in a report on Tuesday, April 8th.
View Our Latest Stock Report on OFLX
Omega Flex Price Performance
Shares of NASDAQ:OFLX opened at $30.83 on Friday. The stock has a market cap of $311.20 million, a price-to-earnings ratio of 17.03 and a beta of 0.36. The company has a 50 day moving average of $33.81 and a 200-day moving average of $40.41. Omega Flex, Inc. has a one year low of $28.12 and a one year high of $67.56.
Omega Flex (NASDAQ:OFLX - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $0.35 EPS for the quarter. Omega Flex had a net margin of 17.71% and a return on equity of 22.68%. The firm had revenue of $23.33 million during the quarter.
Omega Flex Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Thursday, April 10th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date was Thursday, April 10th. Omega Flex's dividend payout ratio (DPR) is currently 79.07%.
Omega Flex Profile
(
Free Report)
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.
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