Wells Fargo & Company MN Acquires 9,311 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

Wells Fargo & Company MN grew its holdings in Omega Flex, Inc. (NASDAQ:OFLX - Free Report) by 14.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,279 shares of the industrial products company's stock after purchasing an additional 9,311 shares during the quarter. Wells Fargo & Company MN owned about 0.75% of Omega Flex worth $3,159,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Omega Flex by 51.2% in the third quarter. JPMorgan Chase & Co. now owns 13,512 shares of the industrial products company's stock valued at $675,000 after purchasing an additional 4,578 shares during the last quarter. State Street Corp grew its position in shares of Omega Flex by 3.4% in the third quarter. State Street Corp now owns 74,196 shares of the industrial products company's stock valued at $3,729,000 after purchasing an additional 2,433 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Omega Flex by 2.7% in the third quarter. Geode Capital Management LLC now owns 89,362 shares of the industrial products company's stock valued at $4,461,000 after purchasing an additional 2,358 shares during the last quarter. Barclays PLC grew its position in shares of Omega Flex by 405.9% in the third quarter. Barclays PLC now owns 6,450 shares of the industrial products company's stock valued at $323,000 after purchasing an additional 5,175 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Omega Flex in the fourth quarter valued at about $690,000. 36.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Omega Flex Trading Down 1.3 %

OFLX stock traded down $0.40 during trading on Tuesday, reaching $30.57. 13,131 shares of the stock were exchanged, compared to its average volume of 25,305. Omega Flex, Inc. has a twelve month low of $28.12 and a twelve month high of $68.50. The company has a market capitalization of $308.57 million, a P/E ratio of 16.89 and a beta of 0.38. The stock has a 50 day simple moving average of $34.70 and a 200-day simple moving average of $41.47.

Omega Flex (NASDAQ:OFLX - Get Free Report) last released its earnings results on Wednesday, March 5th. The industrial products company reported $0.46 earnings per share for the quarter. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%. The business had revenue of $26.97 million for the quarter.

Omega Flex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Thursday, April 10th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Thursday, April 10th. Omega Flex's dividend payout ratio (DPR) is presently 75.98%.

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.