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Renaissance Technologies LLC Raises Position in Omega Flex, Inc. (NASDAQ:OFLX)

Omega Flex logo with Industrial Products background

Renaissance Technologies LLC lifted its position in Omega Flex, Inc. (NASDAQ:OFLX - Free Report) by 44.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,695 shares of the industrial products company's stock after purchasing an additional 11,515 shares during the quarter. Renaissance Technologies LLC owned 0.37% of Omega Flex worth $1,933,000 at the end of the most recent quarter.

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

Omega Flex Price Performance

OFLX traded down $0.75 during trading on Thursday, reaching $48.24. The stock had a trading volume of 12,433 shares, compared to its average volume of 21,513. The stock's 50 day moving average is $48.44 and its two-hundred day moving average is $57.31. Omega Flex, Inc. has a one year low of $43.86 and a one year high of $85.92.

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

Omega Flex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.36 annualized dividend and a dividend yield of 2.82%. Omega Flex's payout ratio is 71.58%.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Report on Omega Flex

Omega Flex Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Omega Flex (NASDAQ:OFLX)

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