Creative Planning Invests $566,000 in Omega Flex, Inc. (NASDAQ:OFLX)

Creative Planning bought a new stake in Omega Flex, Inc. (NASDAQ:OFLX - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,337 shares of the industrial products company's stock, valued at approximately $566,000. Creative Planning owned approximately 0.11% of Omega Flex as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Omega Flex by 1.5% in the first quarter. Vanguard Group Inc. now owns 161,884 shares of the industrial products company's stock worth $11,482,000 after acquiring an additional 2,411 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Omega Flex by 44.0% in the 2nd quarter. Renaissance Technologies LLC now owns 37,695 shares of the industrial products company's stock valued at $1,933,000 after purchasing an additional 11,515 shares in the last quarter. Sei Investments Co. boosted 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 during the last quarter. Marshall Wace LLP grew its position in shares of Omega Flex by 207.1% during the second quarter. Marshall Wace LLP now owns 20,759 shares of the industrial products company's stock worth $1,065,000 after buying an additional 13,999 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in Omega Flex in the third quarter valued at $864,000. 36.06% of the stock is currently owned by hedge funds and other institutional investors.

Omega Flex Trading Up 1.8 %

NASDAQ:OFLX traded up $0.94 during trading hours on Tuesday, reaching $52.29. 27,721 shares of the stock were exchanged, compared to its average volume of 20,944. Omega Flex, Inc. has a 52 week low of $43.86 and a 52 week high of $85.92. The firm has a 50 day simple moving average of $49.12 and a 200-day simple moving average of $53.91.

Omega Flex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.60%. Omega Flex's dividend payout ratio (DPR) is 75.14%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Omega Flex from a "buy" rating to a "hold" rating in a research note on Friday.

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.