Cubist Systematic Strategies LLC Acquires New Position in Omega Flex, Inc. (NASDAQ:OFLX)

Cubist Systematic Strategies LLC bought a new position in shares of Omega Flex, Inc. (NASDAQ:OFLX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,413 shares of the industrial products company’s stock, valued at approximately $278,000. Cubist Systematic Strategies LLC owned 0.05% of Omega Flex as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. bought a new position in Omega Flex in the 1st quarter worth approximately $30,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Omega Flex during the 1st quarter valued at $128,000. EntryPoint Capital LLC lifted its holdings in Omega Flex by 577.5% during the 1st quarter. EntryPoint Capital LLC now owns 1,836 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 1,565 shares in the last quarter. Norden Group LLC bought a new position in Omega Flex in the 1st quarter worth about $249,000. Finally, Virtu Financial LLC purchased a new position in Omega Flex during the 4th quarter valued at about $280,000. Hedge funds and other institutional investors own 36.06% of the company’s stock.

Omega Flex Stock Performance

Omega Flex stock opened at $49.17 on Tuesday. Omega Flex, Inc. has a fifty-two week low of $43.86 and a fifty-two week high of $85.92. The stock has a market cap of $496.13 million, a P/E ratio of 25.88 and a beta of 0.39. The firm’s fifty day moving average price is $48.06 and its 200-day moving average price is $55.98.

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

Omega Flex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 26th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.36 annualized dividend and a yield of 2.77%. Omega Flex’s payout ratio is presently 71.58%.

Analyst Upgrades and Downgrades

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

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.