Hunter Associates Investment Management LLC Sells 3,900 Shares of Omega Flex, Inc. $OFLX

Hunter Associates Investment Management LLC decreased its holdings in Omega Flex, Inc. (NASDAQ:OFLX) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,482 shares of the industrial products company’s stock after selling 3,900 shares during the period. Hunter Associates Investment Management LLC owned about 0.74% of Omega Flex worth $2,410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of OFLX. CWM LLC increased its holdings in shares of Omega Flex by 183.8% in the 1st quarter. CWM LLC now owns 1,223 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 792 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Omega Flex by 95.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,787 shares of the industrial products company’s stock worth $62,000 after buying an additional 875 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Omega Flex in the 1st quarter worth $159,000. PDT Partners LLC boosted its stake in shares of Omega Flex by 7.3% in the 1st quarter. PDT Partners LLC now owns 6,791 shares of the industrial products company’s stock worth $236,000 after buying an additional 462 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Omega Flex by 40.0% in the 1st quarter. M&T Bank Corp now owns 6,907 shares of the industrial products company’s stock worth $240,000 after buying an additional 1,975 shares during the last quarter. Institutional investors own 36.06% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Omega Flex in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Omega Flex Stock Performance

NASDAQ OFLX opened at $27.65 on Monday. The company has a market capitalization of $279.10 million, a PE ratio of 17.39 and a beta of 0.35. The business’s fifty day moving average is $31.91 and its 200 day moving average is $32.52. Omega Flex, Inc. has a fifty-two week low of $26.83 and a fifty-two week high of $57.81.

Omega Flex (NASDAQ:OFLX) last released its earnings results on Wednesday, October 29th. The industrial products company reported $0.37 earnings per share for the quarter. The company had revenue of $24.23 million for the quarter. Omega Flex had a return on equity of 19.28% and a net margin of 16.08%.

Omega Flex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 8th. Stockholders of record on Thursday, September 25th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Thursday, September 25th. Omega Flex’s payout ratio is presently 85.53%.

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.