Norden Group LLC Takes $3.51 Million Position in Omega Flex, Inc. (NASDAQ:OFLX)

Norden Group LLC acquired a new stake in Omega Flex, Inc. (NASDAQ:OFLX) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 49,532 shares of the industrial products company’s stock, valued at approximately $3,513,000. Norden Group LLC owned 0.49% of Omega Flex at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Portside Wealth Group LLC grew its stake in shares of Omega Flex by 9.3% in the fourth quarter. Portside Wealth Group LLC now owns 3,611 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 307 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Omega Flex in the fourth quarter valued at about $37,000. Virtu Financial LLC acquired a new position in shares of Omega Flex in the fourth quarter worth approximately $280,000. Finally, Cim LLC bought a new stake in Omega Flex in the fourth quarter valued at approximately $296,000. Institutional investors own 36.06% of the company’s stock.

Omega Flex Stock Performance

NASDAQ:OFLX opened at $50.71 on Thursday. The company has a market capitalization of $511.66 million, a PE ratio of 26.69 and a beta of 0.38. Omega Flex, Inc. has a fifty-two week low of $49.93 and a fifty-two week high of $101.50. The company has a 50 day simple moving average of $61.03 and a two-hundred day simple moving average of $67.83.

Omega Flex (NASDAQ:OFLX) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $0.42 earnings per share for the quarter. The business had revenue of $25.22 million during the quarter. Omega Flex had a net margin of 18.03% and a return on equity of 24.76%.

Omega Flex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 26th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.68%. This is an increase from Omega Flex’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, June 26th. Omega Flex’s payout ratio is currently 71.58%.

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.