Rhumbline Advisers Sells 314 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

Rhumbline Advisers lowered its holdings in shares of Omega Flex, Inc. (NASDAQ:OFLX) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,744 shares of the industrial products company’s stock after selling 314 shares during the quarter. Rhumbline Advisers’ holdings in Omega Flex were worth $243,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norden Group LLC purchased a new stake in Omega Flex during the 1st quarter valued at $3,513,000. Vanguard Group Inc. raised its position in Omega Flex by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 161,884 shares of the industrial products company’s stock worth $11,482,000 after purchasing an additional 2,411 shares during the period. Sei Investments Co. boosted its position in shares of Omega Flex by 1.5% during the first quarter. Sei Investments Co. now owns 23,694 shares of the industrial products company’s stock valued at $1,681,000 after buying an additional 348 shares during the period. Virtu Financial LLC bought a new position in shares of Omega Flex during the fourth quarter valued at approximately $280,000. Finally, Cim LLC purchased a new stake in shares of Omega Flex in the fourth quarter worth approximately $296,000. 36.06% of the stock is owned by hedge funds and other institutional investors.

Omega Flex Price Performance

Omega Flex stock opened at $51.30 on Friday. The firm has a 50-day moving average of $48.63 and a two-hundred day moving average of $57.88. The stock has a market cap of $517.62 million, a price-to-earnings ratio of 27.00 and a beta of 0.40. Omega Flex, Inc. has a 1 year low of $43.86 and a 1 year high of $85.92.

Omega Flex (NASDAQ:OFLX) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.45 earnings per share (EPS) for the quarter. Omega Flex had a net margin of 18.18% and a return on equity of 24.24%. The company had revenue of $24.62 million during the quarter.

Omega Flex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 26th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.36 annualized dividend and a dividend yield of 2.65%. Omega Flex’s dividend payout ratio (DPR) is presently 71.58%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Omega Flex from a “hold” rating to a “buy” rating in a research report on Friday, August 9th.

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.