Inspire Investing LLC Acquires 1,856 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

Inspire Investing LLC increased its holdings in Omega Flex, Inc. (NASDAQ:OFLX) by 10.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 19,162 shares of the industrial products company’s stock after buying an additional 1,856 shares during the quarter. Inspire Investing LLC’s holdings in Omega Flex were worth $804,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased 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 worth $675,000 after buying an additional 4,578 shares in the last quarter. Barclays PLC grew its stake in shares of Omega Flex by 405.9% during the 3rd 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 period. Geode Capital Management LLC grew its stake in shares of Omega Flex by 2.7% during the 3rd 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 period. State Street Corp grew its stake in shares of Omega Flex by 3.4% during the 3rd 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 period. Finally, PDT Partners LLC bought a new stake in shares of Omega Flex during the 3rd quarter valued at about $316,000. 36.06% of the stock is currently owned by institutional investors.

Omega Flex Stock Up 1.2 %

Omega Flex stock opened at $41.60 on Friday. The business has a 50-day simple moving average of $44.29 and a two-hundred day simple moving average of $47.79. The company has a market cap of $419.74 million, a P/E ratio of 22.98 and a beta of 0.39. Omega Flex, Inc. has a 52-week low of $37.27 and a 52-week high of $75.28.

Omega Flex (NASDAQ:OFLX) last posted its quarterly earnings data on Wednesday, October 30th. 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 firm had revenue of $24.88 million for the quarter.

Omega Flex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, December 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.27%. Omega Flex’s payout ratio is currently 75.14%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Omega Flex from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

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.