Bennett Selby Investments LP Lowers Position in Omega Flex, Inc. (NASDAQ:OFLX)

Bennett Selby Investments LP cut its stake in shares of Omega Flex, Inc. (NASDAQ:OFLX) by 8.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,792 shares of the industrial products company’s stock after selling 653 shares during the period. Bennett Selby Investments LP’s holdings in Omega Flex were worth $339,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of OFLX. Cim LLC bought a new position in shares of Omega Flex during the 4th quarter worth approximately $296,000. Virtu Financial LLC bought a new position in Omega Flex during the fourth quarter worth about $280,000. Norden Group LLC purchased a new position in shares of Omega Flex in the first quarter worth about $3,513,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Omega Flex in the first quarter valued at approximately $30,000. Finally, Sei Investments Co. lifted its stake in shares of Omega Flex by 1.5% during the 1st 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 in the last quarter. 36.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Omega Flex Stock Up 3.5 %

Shares of OFLX opened at $49.65 on Friday. Omega Flex, Inc. has a twelve month low of $43.86 and a twelve month high of $85.92. The stock has a market cap of $500.97 million, a PE ratio of 26.13 and a beta of 0.39. The business’s 50-day moving average price is $47.98 and its 200-day moving average price is $56.46.

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

Omega Flex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 26th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Thursday, September 26th. Omega Flex’s dividend payout ratio is 71.58%.

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.