US Bancorp DE Buys 1,901 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

US Bancorp DE grew its stake in Omega Flex, Inc. (NASDAQ:OFLX – Get Rating) by 42.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,407 shares of the industrial products company’s stock after acquiring an additional 1,901 shares during the period. US Bancorp DE’s holdings in Omega Flex were worth $593,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of OFLX. Gladius Capital Management LP acquired a new stake in shares of Omega Flex during the 2nd quarter worth approximately $43,000. Lazard Asset Management LLC acquired a new stake in shares of Omega Flex during the 2nd quarter worth approximately $48,000. UBS Group AG grew its position in shares of Omega Flex by 236.2% during the 2nd quarter. UBS Group AG now owns 595 shares of the industrial products company’s stock worth $64,000 after buying an additional 418 shares during the period. Amalgamated Bank acquired a new stake in shares of Omega Flex during the 1st quarter worth approximately $66,000. Finally, BNP Paribas Arbitrage SA grew its holdings in Omega Flex by 297.5% during the second quarter. BNP Paribas Arbitrage SA now owns 1,105 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 827 shares during the period. 38.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Omega Flex in a report on Wednesday, October 12th. They set a “hold” rating for the company.

Omega Flex Stock Performance

Shares of NASDAQ OFLX opened at $97.46 on Friday. The stock has a market cap of $983.76 million, a P/E ratio of 39.30 and a beta of 0.49. The firm has a 50 day moving average price of $96.75 and a 200 day moving average price of $101.13. Omega Flex, Inc. has a 52-week low of $77.28 and a 52-week high of $161.39.

Omega Flex (NASDAQ:OFLX – Get Rating) last issued its quarterly earnings data on Thursday, October 20th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter. The firm had revenue of $31.63 million during the quarter. Omega Flex had a net margin of 19.24% and a return on equity of 39.06%.

Omega Flex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Monday, December 19th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, December 16th. Omega Flex’s dividend payout ratio (DPR) is presently 51.61%.

Omega Flex Profile

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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, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.