Omega Flex, Inc. (NASDAQ:OFLX) Stock Holdings Increased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in Omega Flex, Inc. (NASDAQ:OFLX) by 25.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,498 shares of the industrial products company’s stock after purchasing an additional 7,203 shares during the quarter. Envestnet Asset Management Inc. owned 0.35% of Omega Flex worth $1,235,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Omega Flex by 4,271.4% during the 1st quarter. GAMMA Investing LLC now owns 1,530 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 1,495 shares in the last quarter. State of Wyoming acquired a new stake in shares of Omega Flex in the fourth quarter valued at $135,000. Bank of America Corp DE boosted its stake in Omega Flex by 16.0% during the fourth quarter. Bank of America Corp DE now owns 6,507 shares of the industrial products company’s stock valued at $273,000 after buying an additional 897 shares in the last quarter. Barclays PLC grew its holdings in Omega Flex by 10.0% during the fourth quarter. Barclays PLC now owns 7,098 shares of the industrial products company’s stock worth $298,000 after acquiring an additional 648 shares during the period. Finally, American Century Companies Inc. raised its position in Omega Flex by 14.6% in the fourth quarter. American Century Companies Inc. now owns 7,327 shares of the industrial products company’s stock worth $308,000 after acquiring an additional 933 shares in the last quarter. Institutional investors own 36.06% of the company’s stock.

Omega Flex Price Performance

OFLX stock opened at $31.19 on Friday. The firm has a market cap of $314.83 million, a PE ratio of 18.57 and a beta of 0.36. Omega Flex, Inc. has a 12 month low of $28.12 and a 12 month high of $57.81. The firm has a 50 day simple moving average of $33.42 and a 200 day simple moving average of $34.85.

Omega Flex (NASDAQ:OFLX) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter. Omega Flex had a return on equity of 20.55% and a net margin of 16.91%. The company had revenue of $25.52 million for the quarter.

Omega Flex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 30th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 30th. Omega Flex’s dividend payout ratio is currently 80.95%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Omega Flex from a “buy” rating to a “hold” rating in a report on Thursday, May 15th.

Insider Activity at Omega Flex

In related news, Chairman Kevin R. Hoben sold 972 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $31.55, for a total value of $30,666.60. Following the completion of the transaction, the chairman owned 898,533 shares in the company, valued at $28,348,716.15. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 65.20% of the stock is currently owned by corporate insiders.

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.