Hunter Associates Investment Management LLC Lowers Holdings in Omega Flex, Inc. $OFLX

Hunter Associates Investment Management LLC trimmed its holdings in Omega Flex, Inc. (NASDAQ:OFLX) by 5.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 74,482 shares of the industrial products company’s stock after selling 3,900 shares during the period. Hunter Associates Investment Management LLC’s holdings in Omega Flex were worth $2,410,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Nuveen LLC purchased a new stake in shares of Omega Flex in the first quarter worth about $848,000. Goldman Sachs Group Inc. lifted its position in shares of Omega Flex by 28.2% in the first quarter. Goldman Sachs Group Inc. now owns 58,834 shares of the industrial products company’s stock worth $2,046,000 after buying an additional 12,928 shares in the last quarter. Cardinal Capital Management lifted its position in shares of Omega Flex by 45.0% in the second quarter. Cardinal Capital Management now owns 38,904 shares of the industrial products company’s stock worth $1,273,000 after buying an additional 12,069 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Omega Flex in the first quarter worth about $292,000. Finally, Jane Street Group LLC lifted its position in shares of Omega Flex by 119.0% in the first quarter. Jane Street Group LLC now owns 14,080 shares of the industrial products company’s stock worth $490,000 after buying an additional 7,651 shares in the last quarter. 36.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Omega Flex in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Omega Flex Price Performance

Shares of NASDAQ OFLX opened at $27.65 on Monday. The business’s 50 day moving average is $31.91 and its two-hundred day moving average is $32.52. Omega Flex, Inc. has a 1-year low of $26.83 and a 1-year high of $57.81. The stock has a market capitalization of $279.10 million, a P/E ratio of 17.39 and a beta of 0.35.

Omega Flex (NASDAQ:OFLX) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $0.37 earnings per share for the quarter. Omega Flex had a return on equity of 19.28% and a net margin of 16.08%.The company had revenue of $24.23 million for the quarter.

Omega Flex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 8th. Stockholders of record on Thursday, September 25th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.9%. Omega Flex’s dividend payout ratio is currently 85.53%.

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.