Omega Flex, Inc. (NASDAQ:OFLX) Stake Lifted by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in Omega Flex, Inc. (NASDAQ:OFLX) by 20.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 11,630 shares of the industrial products company’s stock after buying an additional 1,957 shares during the quarter. BNP Paribas Financial Markets’ holdings in Omega Flex were worth $581,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Omega Flex by 196.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,236 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 819 shares during the period. American Century Companies Inc. lifted its holdings in shares of Omega Flex by 50.2% in the second quarter. American Century Companies Inc. now owns 5,006 shares of the industrial products company’s stock valued at $257,000 after buying an additional 1,673 shares during the period. Los Angeles Capital Management LLC acquired a new position in Omega Flex during the second quarter worth about $271,000. Cubist Systematic Strategies LLC acquired a new position in Omega Flex in the second quarter worth approximately $278,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Omega Flex in the 3rd quarter valued at $298,000. 36.06% of the stock is currently owned by institutional investors.

Omega Flex Trading Down 2.5 %

Shares of Omega Flex stock opened at $45.28 on Friday. Omega Flex, Inc. has a 52-week low of $43.86 and a 52-week high of $85.92. The stock has a 50-day simple moving average of $50.05 and a 200-day simple moving average of $50.91.

Omega Flex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Thursday, December 19th will be given a $0.34 dividend. The ex-dividend date is Thursday, December 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.00%. Omega Flex’s dividend payout ratio is currently 75.14%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Omega Flex from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

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.