JPMorgan Chase & Co. boosted its position in shares of Omega Flex, Inc. (NASDAQ:OFLX – Free Report) by 51.2% in the third quarter, Holdings Channel.com reports. The firm owned 13,512 shares of the industrial products company’s stock after acquiring an additional 4,578 shares during the period. JPMorgan Chase & Co.’s holdings in Omega Flex were worth $675,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in OFLX. American Century Companies Inc. increased its holdings in Omega Flex by 50.2% during the 2nd quarter. American Century Companies Inc. now owns 5,006 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 1,673 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Omega Flex in the 2nd quarter valued at about $278,000. Los Angeles Capital Management LLC grew its holdings in shares of Omega Flex by 5.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 5,560 shares of the industrial products company’s stock valued at $278,000 after acquiring an additional 270 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Omega Flex in the 3rd quarter valued at about $298,000. Finally, PDT Partners LLC bought a new position in Omega Flex during the third quarter worth about $316,000. Institutional investors own 36.06% of the company’s stock.
Omega Flex Stock Up 0.9 %
Shares of OFLX stock opened at $41.97 on Tuesday. The firm has a 50 day moving average price of $44.29 and a two-hundred day moving average price of $47.77. The company has a market capitalization of $423.65 million, a PE ratio of 23.19 and a beta of 0.39. Omega Flex, Inc. has a 12-month low of $37.27 and a 12-month high of $75.28.
Omega Flex Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Thursday, December 19th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $1.36 annualized dividend and a yield of 3.24%. Omega Flex’s dividend payout ratio is currently 75.14%.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut Omega Flex from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th.
View Our Latest Stock Analysis on Omega Flex
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.
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