Daiwa Securities Group Inc. Boosts Stock Position in Omega Flex, Inc. (NASDAQ:OFLX)

Daiwa Securities Group Inc. boosted its stake in shares of Omega Flex, Inc. (NASDAQ:OFLX) by 11.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,853 shares of the industrial products company’s stock after buying an additional 1,696 shares during the quarter. Daiwa Securities Group Inc. owned approximately 0.17% of Omega Flex worth $841,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in OFLX. Los Angeles Capital Management LLC raised its stake in shares of Omega Flex by 5.1% during the third 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. Benjamin F. Edwards & Company Inc. increased its holdings 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 purchasing an additional 819 shares during the period. Charles Schwab Investment Management Inc. raised its position in Omega Flex by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,952 shares of the industrial products company’s stock valued at $1,395,000 after purchasing an additional 932 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Omega Flex by 50.2% in the 2nd quarter. American Century Companies Inc. now owns 5,006 shares of the industrial products company’s stock worth $257,000 after buying an additional 1,673 shares during the period. Finally, US Bancorp DE grew its position in shares of Omega Flex by 38.5% during the 3rd quarter. US Bancorp DE now owns 6,439 shares of the industrial products company’s stock worth $321,000 after buying an additional 1,789 shares in the last quarter. 36.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Omega Flex from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th.

Omega Flex Stock Performance

Shares of OFLX opened at $49.42 on Friday. The company has a 50 day moving average price of $50.46 and a 200-day moving average price of $52.07. Omega Flex, Inc. has a fifty-two week low of $43.86 and a fifty-two week high of $85.92. The stock has a market capitalization of $498.65 million, a PE ratio of 27.30 and a beta of 0.39.

Omega Flex Announces Dividend

The business 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 of this dividend was Thursday, September 26th. This represents a $1.36 dividend on an annualized basis and a yield of 2.75%. Omega Flex’s dividend payout ratio is currently 75.14%.

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.