Azzad Asset Management Inc. ADV Cuts Holdings in Omega Flex, Inc. (NASDAQ:OFLX)

Azzad Asset Management Inc. ADV lowered its position in Omega Flex, Inc. (NASDAQ:OFLX) by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,568 shares of the industrial products company’s stock after selling 218 shares during the period. Azzad Asset Management Inc. ADV owned about 0.10% of Omega Flex worth $750,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cim LLC purchased a new position in shares of Omega Flex in the 4th quarter valued at about $296,000. Virtu Financial LLC purchased a new stake in shares of Omega Flex in the fourth quarter valued at approximately $280,000. Portside Wealth Group LLC increased its position in shares of Omega Flex by 9.3% in the fourth quarter. Portside Wealth Group LLC now owns 3,611 shares of the industrial products company’s stock valued at $255,000 after buying an additional 307 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Omega Flex during the 4th quarter valued at approximately $37,000. 36.06% of the stock is owned by hedge funds and other institutional investors.

Omega Flex Stock Performance

Omega Flex stock traded up $0.05 during trading on Wednesday, reaching $50.90. The company had a trading volume of 8,809 shares, compared to its average volume of 19,264. The firm has a market capitalization of $513.58 million, a PE ratio of 26.76 and a beta of 0.38. The firm’s 50-day simple moving average is $61.37 and its 200 day simple moving average is $67.95. Omega Flex, Inc. has a 1-year low of $49.93 and a 1-year high of $101.50.

Omega Flex (NASDAQ:OFLX) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $25.22 million for the quarter. Omega Flex had a net margin of 18.03% and a return on equity of 24.76%.

Omega Flex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Wednesday, June 26th will be paid a dividend of $0.34 per share. This is a positive change from Omega Flex’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 2.67%. The ex-dividend date is Wednesday, June 26th. Omega Flex’s payout ratio is 71.58%.

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.