Geode Capital Management LLC Purchases 2,358 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

Geode Capital Management LLC boosted its position in shares of Omega Flex, Inc. (NASDAQ:OFLX) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 89,362 shares of the industrial products company’s stock after buying an additional 2,358 shares during the quarter. Geode Capital Management LLC’s holdings in Omega Flex were worth $4,461,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC boosted its holdings in shares of Omega Flex by 5.1% in the third quarter. Los Angeles Capital Management LLC now owns 5,560 shares of the industrial products company’s stock valued at $278,000 after buying an additional 270 shares during the period. 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 worth $63,000 after purchasing an additional 819 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Omega Flex by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,952 shares of the industrial products company’s stock valued at $1,395,000 after acquiring an additional 932 shares during the period. American Century Companies Inc. lifted its position 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 last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Omega Flex by 11.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 16,853 shares of the industrial products company’s stock worth $841,000 after buying an additional 1,696 shares during the last quarter. Institutional investors and hedge funds own 36.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

Omega Flex Stock Performance

NASDAQ OFLX opened at $41.30 on Monday. The stock has a market cap of $416.72 million, a PE ratio of 22.82 and a beta of 0.39. The firm’s fifty day moving average price is $47.94 and its two-hundred day moving average price is $48.94. Omega Flex, Inc. has a fifty-two week low of $40.38 and a fifty-two week high of $76.50.

Omega Flex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, December 19th. Omega Flex’s dividend payout ratio is 75.14%.

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.