Daiwa Securities Group Inc. Sells 3,500 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

Daiwa Securities Group Inc. trimmed its holdings in shares of Omega Flex, Inc. (NASDAQ:OFLX) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,534 shares of the industrial products company’s stock after selling 3,500 shares during the period. Daiwa Securities Group Inc. owned 0.18% of Omega Flex worth $1,307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in Omega Flex in the fourth quarter valued at approximately $37,000. Strs Ohio increased its stake in Omega Flex by 50.0% in the third quarter. Strs Ohio now owns 2,400 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 800 shares in the last quarter. Portside Wealth Group LLC increased its stake in Omega Flex by 9.3% in the fourth quarter. Portside Wealth Group LLC now owns 3,611 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 307 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Omega Flex by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 40,859 shares of the industrial products company’s stock valued at $3,217,000 after purchasing an additional 429 shares in the last quarter. Finally, Hunter Associates Investment Management LLC increased its stake in Omega Flex by 0.8% in the third quarter. Hunter Associates Investment Management LLC now owns 78,822 shares of the industrial products company’s stock valued at $6,210,000 after purchasing an additional 650 shares in the last quarter. 36.06% of the stock is owned by institutional investors.

Omega Flex Stock Performance

Shares of NASDAQ:OFLX opened at $67.50 on Wednesday. Omega Flex, Inc. has a 52 week low of $63.43 and a 52 week high of $117.63. The company has a market capitalization of $681.08 million, a PE ratio of 32.93 and a beta of 0.37. The company has a 50 day moving average price of $70.37 and a two-hundred day moving average price of $72.18.

Omega Flex (NASDAQ:OFLX) last issued its earnings results on Wednesday, March 6th. The industrial products company reported $0.48 EPS for the quarter. The firm had revenue of $28.15 million during the quarter. Omega Flex had a net margin of 18.63% and a return on equity of 27.24%.

Omega Flex Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Tuesday, April 9th. Omega Flex’s dividend payout ratio (DPR) is presently 64.39%.

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.