Inspire Investing LLC Boosts Stock Position in Omega Flex, Inc. (NASDAQ:OFLX)

Inspire Investing LLC grew its stake in shares of Omega Flex, Inc. (NASDAQ:OFLX) by 10.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,162 shares of the industrial products company’s stock after buying an additional 1,856 shares during the period. Inspire Investing LLC’s holdings in Omega Flex were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in OFLX. Benjamin F. Edwards & Company Inc. lifted its holdings in Omega Flex by 196.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,236 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 819 shares in the last quarter. American Century Companies Inc. lifted its holdings in Omega Flex by 50.2% in the 2nd quarter. American Century Companies Inc. now owns 5,006 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 1,673 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Omega Flex in the 2nd quarter worth approximately $278,000. Los Angeles Capital Management LLC lifted its holdings in Omega Flex by 5.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 5,560 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 270 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in Omega Flex in the 3rd quarter worth approximately $298,000. 36.06% of the stock is owned by hedge funds and other institutional investors.

Omega Flex Price Performance

NASDAQ:OFLX opened at $41.60 on Friday. Omega Flex, Inc. has a 1 year low of $37.27 and a 1 year high of $75.28. The stock’s 50 day simple moving average is $44.29 and its two-hundred day simple moving average is $47.79. The company has a market cap of $419.74 million, a price-to-earnings ratio of 22.98 and a beta of 0.39.

Omega Flex (NASDAQ:OFLX) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.46 earnings per share (EPS) 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 $24.88 million for the quarter.

Omega Flex Announces Dividend

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

Analyst Ratings Changes

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

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.