Omega Flex, Inc. (NASDAQ:OFLX) Stock Position Increased by Trexquant Investment LP

Trexquant Investment LP boosted its position in shares of Omega Flex, Inc. (NASDAQ:OFLX) by 41.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,488 shares of the industrial products company’s stock after buying an additional 2,186 shares during the period. Trexquant Investment LP’s holdings in Omega Flex were worth $314,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in Omega Flex by 51.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,512 shares of the industrial products company’s stock valued at $675,000 after acquiring an additional 4,578 shares during the last quarter. State Street Corp raised its holdings in shares of Omega Flex by 3.4% in the 3rd quarter. State Street Corp now owns 74,196 shares of the industrial products company’s stock worth $3,729,000 after purchasing an additional 2,433 shares in the last quarter. Geode Capital Management LLC lifted its stake in Omega Flex by 2.7% during 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 boosted its holdings in Omega Flex by 405.9% during the third quarter. Barclays PLC now owns 6,450 shares of the industrial products company’s stock worth $323,000 after buying an additional 5,175 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Omega Flex in the fourth quarter worth approximately $690,000. 36.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Omega Flex Stock Down 0.6 %

NASDAQ:OFLX opened at $30.47 on Monday. The stock has a fifty day simple moving average of $36.59 and a 200 day simple moving average of $42.99. The firm has a market capitalization of $307.56 million, a price-to-earnings ratio of 16.83 and a beta of 0.38. Omega Flex, Inc. has a 1-year low of $29.72 and a 1-year high of $69.70.

Omega Flex (NASDAQ:OFLX) 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 net margin of 17.71% and a return on equity of 22.68%. The business had revenue of $26.97 million for the quarter.

Omega Flex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.46%. Omega Flex’s dividend payout ratio is 75.98%.

Omega Flex 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.