Swiss National Bank Cuts Position in Omega Flex, Inc. (NASDAQ:OFLX)

Swiss National Bank lessened its position in Omega Flex, Inc. (NASDAQ:OFLX) by 18.5% during the fourth quarter, Holdings Channel reports. The fund owned 5,703 shares of the industrial products company’s stock after selling 1,297 shares during the period. Swiss National Bank’s holdings in Omega Flex were worth $239,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Norden Group LLC purchased a new position in shares of Omega Flex in the 4th quarter worth about $243,000. PDT Partners LLC bought a new stake in Omega Flex in the 3rd quarter worth approximately $316,000. Barclays PLC boosted its stake in Omega Flex by 405.9% in the third quarter. Barclays PLC now owns 6,450 shares of the industrial products company’s stock worth $323,000 after buying an additional 5,175 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Omega Flex by 13.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,776 shares of the industrial products company’s stock worth $284,000 after buying an additional 804 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Omega Flex by 20.2% during the third quarter. BNP Paribas Financial Markets now owns 11,630 shares of the industrial products company’s stock valued at $581,000 after acquiring an additional 1,957 shares during the last quarter. Hedge funds and other institutional investors own 36.06% of the company’s stock.

Omega Flex Stock Down 1.7 %

NASDAQ OFLX opened at $35.36 on Monday. The company has a 50-day simple moving average of $38.50 and a two-hundred day simple moving average of $44.48. Omega Flex, Inc. has a 12-month low of $34.39 and a 12-month high of $75.15. The firm has a market cap of $356.92 million, a price-to-earnings ratio of 19.54 and a beta of 0.26.

Omega Flex (NASDAQ:OFLX) last released its earnings results on Wednesday, March 5th. The industrial products company reported $0.46 earnings per share for the quarter. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%. The company had revenue of $26.97 million during the quarter.

Omega Flex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Thursday, April 10th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Thursday, April 10th. Omega Flex’s dividend payout ratio is 75.98%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Omega Flex from a “buy” rating to a “hold” rating in a report on Friday, March 7th.

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.