Los Angeles Capital Management LLC Purchases Shares of 5,290 Omega Flex, Inc. (NASDAQ:OFLX)

Los Angeles Capital Management LLC purchased a new stake in shares of Omega Flex, Inc. (NASDAQ:OFLX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,290 shares of the industrial products company’s stock, valued at approximately $271,000. Los Angeles Capital Management LLC owned 0.05% of Omega Flex at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OFLX. Benjamin F. Edwards & Company Inc. bought a new stake in Omega Flex during the first quarter valued at about $30,000. SYSTM Wealth Solutions LLC bought a new stake in Omega Flex during the first quarter valued at about $124,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Omega Flex during the first quarter valued at about $128,000. EntryPoint Capital LLC raised its position in shares of Omega Flex by 577.5% during the first quarter. EntryPoint Capital LLC now owns 1,836 shares of the industrial products company’s stock valued at $130,000 after buying an additional 1,565 shares during the last quarter. Finally, Norden Group LLC acquired a new position in shares of Omega Flex during the first quarter valued at about $249,000. 36.06% of the stock is currently owned by institutional investors.

Omega Flex Stock Performance

Shares of OFLX opened at $50.23 on Monday. The company has a 50-day simple moving average of $48.73 and a 200-day simple moving average of $59.02. The firm has a market capitalization of $506.82 million, a P/E ratio of 26.44 and a beta of 0.40. Omega Flex, Inc. has a 52 week low of $43.86 and a 52 week high of $87.86.

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

Omega Flex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 26th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.71%. The ex-dividend date is Thursday, September 26th. Omega Flex’s dividend payout ratio (DPR) is presently 71.58%.

Wall Street Analysts Forecast Growth

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

Omega Flex Company 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.