Creative Planning Takes $566,000 Position in Omega Flex, Inc. (NASDAQ:OFLX)

Creative Planning bought a new stake in Omega Flex, Inc. (NASDAQ:OFLX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,337 shares of the industrial products company’s stock, valued at approximately $566,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Omega Flex by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 161,884 shares of the industrial products company’s stock worth $11,482,000 after buying an additional 2,411 shares during the period. Renaissance Technologies LLC increased its position in Omega Flex by 44.0% during the 2nd quarter. Renaissance Technologies LLC now owns 37,695 shares of the industrial products company’s stock valued at $1,933,000 after buying an additional 11,515 shares in the last quarter. Sei Investments Co. raised its stake in Omega Flex by 1.5% in the first quarter. Sei Investments Co. now owns 23,694 shares of the industrial products company’s stock valued at $1,681,000 after buying an additional 348 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Omega Flex by 207.1% during the second quarter. Marshall Wace LLP now owns 20,759 shares of the industrial products company’s stock valued at $1,065,000 after acquiring an additional 13,999 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in shares of Omega Flex during the third quarter worth $864,000. Hedge funds and other institutional investors own 36.06% of the company’s stock.

Omega Flex Trading Up 1.4 %

Shares of NASDAQ:OFLX opened at $51.35 on Tuesday. The business has a 50 day moving average of $49.12 and a two-hundred day moving average of $53.91. Omega Flex, Inc. has a 12-month low of $43.86 and a 12-month high of $85.92. The company has a market capitalization of $518.12 million, a PE ratio of 28.37 and a beta of 0.39.

Omega Flex Dividend Announcement

The firm also recently announced 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 2.65%. The ex-dividend date of this dividend was Thursday, September 26th. Omega Flex’s dividend payout ratio (DPR) is presently 75.14%.

Analysts Set New Price Targets

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

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.