Townsquare Capital LLC Sells 2,612 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

Townsquare Capital LLC cut its holdings in Omega Flex, Inc. (NASDAQ:OFLX) by 11.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,396 shares of the industrial products company’s stock after selling 2,612 shares during the period. Townsquare Capital LLC’s holdings in Omega Flex were worth $1,018,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in OFLX. Benjamin F. Edwards & Company Inc. increased its position in shares of Omega Flex by 196.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,236 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 819 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of 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 acquiring an additional 1,673 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Omega Flex during the 2nd quarter worth about $271,000. Cubist Systematic Strategies LLC bought a new position in Omega Flex during the 2nd quarter valued at about $278,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Omega Flex in the 3rd quarter worth about $298,000. 36.06% of the stock is currently owned by institutional investors.

Omega Flex Stock Performance

Shares of NASDAQ:OFLX opened at $50.16 on Tuesday. The firm’s 50 day simple moving average is $50.45 and its 200-day simple moving average is $51.74. Omega Flex, Inc. has a one year low of $43.86 and a one year high of $85.92. The firm has a market cap of $506.11 million, a PE ratio of 27.71 and a beta of 0.39.

Omega Flex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 26th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Thursday, September 26th. Omega Flex’s payout ratio is 75.14%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Omega Flex from a “buy” rating to a “hold” rating in a research note 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.