Inspire Investing LLC Makes New Investment in Omega Flex, Inc. (NASDAQ:OFLX)

Inspire Investing LLC bought a new stake in Omega Flex, Inc. (NASDAQ:OFLX - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,306 shares of the industrial products company's stock, valued at approximately $864,000. Inspire Investing LLC owned 0.17% of Omega Flex at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new stake in Omega Flex in the second quarter valued at approximately $278,000. Squarepoint Ops LLC increased its position in shares of Omega Flex by 153.2% in the 2nd quarter. Squarepoint Ops LLC now owns 7,430 shares of the industrial products company's stock valued at $381,000 after buying an additional 4,496 shares in the last quarter. Marshall Wace LLP increased its position in shares of Omega Flex by 207.1% in the 2nd quarter. Marshall Wace LLP now owns 20,759 shares of the industrial products company's stock valued at $1,065,000 after buying an additional 13,999 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Omega Flex by 196.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,236 shares of the industrial products company's stock worth $63,000 after buying an additional 819 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Omega Flex by 44.0% during the second quarter. Renaissance Technologies LLC now owns 37,695 shares of the industrial products company's stock worth $1,933,000 after acquiring an additional 11,515 shares in the last quarter. Institutional investors own 36.06% of the company's stock.

Omega Flex Stock Performance

NASDAQ OFLX traded down $0.44 during trading hours on Tuesday, reaching $48.73. 19,370 shares of the company's stock were exchanged, compared to its average volume of 21,224. The company has a market capitalization of $491.69 million, a price-to-earnings ratio of 25.65 and a beta of 0.39. The company's 50-day moving average is $48.10 and its two-hundred day moving average is $55.82. 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 data on Wednesday, July 31st. The industrial products company reported $0.45 earnings per share (EPS) for the quarter. The company had revenue of $24.62 million during the quarter. Omega Flex had a net margin of 18.18% and a return on equity of 24.24%.

Omega Flex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 26th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, September 26th. Omega Flex's dividend payout ratio is 71.58%.

Analyst Ratings Changes

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

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.