American Century Companies Inc. Buys 1,673 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

American Century Companies Inc. lifted its stake in Omega Flex, Inc. (NASDAQ:OFLX) by 50.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,006 shares of the industrial products company’s stock after purchasing an additional 1,673 shares during the period. American Century Companies Inc.’s holdings in Omega Flex were worth $257,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OFLX. Norden Group LLC acquired a new stake in Omega Flex during the 1st quarter worth $3,513,000. Vanguard Group Inc. raised its stake in Omega Flex by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 161,884 shares of the industrial products company’s stock worth $11,482,000 after buying an additional 2,411 shares during the period. Sei Investments Co. raised its stake in Omega Flex by 1.5% during the 1st quarter. Sei Investments Co. now owns 23,694 shares of the industrial products company’s stock worth $1,681,000 after buying an additional 348 shares during the period. Virtu Financial LLC acquired a new stake in Omega Flex during the 4th quarter worth $280,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Omega Flex during the 2nd quarter worth $271,000. 36.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Omega Flex Trading Up 1.6 %

Shares of Omega Flex stock opened at $49.00 on Friday. The company has a market capitalization of $494.41 million, a PE ratio of 25.79 and a beta of 0.39. Omega Flex, Inc. has a 12 month low of $43.86 and a 12 month high of $85.92. The stock’s fifty day simple moving average is $48.28 and its 200 day simple moving average is $57.09.

Omega Flex (NASDAQ:OFLX) last released 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 return on equity of 24.24% and a net margin of 18.18%. The firm had revenue of $24.62 million for the quarter.

Omega Flex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, September 26th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Thursday, September 26th. Omega Flex’s dividend payout ratio is 71.58%.

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.