State Street Corp Acquires 2,433 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

State Street Corp grew its holdings in Omega Flex, Inc. (NASDAQ:OFLX) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,196 shares of the industrial products company’s stock after purchasing an additional 2,433 shares during the period. State Street Corp’s holdings in Omega Flex were worth $3,729,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of OFLX. Renaissance Technologies LLC boosted its holdings in Omega Flex by 44.0% in the second quarter. Renaissance Technologies LLC now owns 37,695 shares of the industrial products company’s stock worth $1,933,000 after purchasing an additional 11,515 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 buying an additional 932 shares in the last quarter. Marshall Wace LLP lifted its stake in Omega Flex by 207.1% in the 2nd quarter. Marshall Wace LLP now owns 20,759 shares of the industrial products company’s stock worth $1,065,000 after purchasing an additional 13,999 shares in the last quarter. Inspire Investing LLC bought a new position in Omega Flex during the third quarter valued at approximately $864,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Omega Flex by 11.2% in the third quarter. Daiwa Securities Group Inc. now owns 16,853 shares of the industrial products company’s stock valued at $841,000 after purchasing an additional 1,696 shares in the last quarter. Hedge funds and other institutional investors own 36.06% of the company’s stock.

Analysts Set New Price Targets

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

Omega Flex Trading Up 1.8 %

Shares of NASDAQ:OFLX opened at $42.25 on Tuesday. Omega Flex, Inc. has a 12-month low of $40.38 and a 12-month high of $76.50. The company has a market capitalization of $426.30 million, a PE ratio of 23.34 and a beta of 0.37. The business’s fifty day simple moving average is $48.54 and its 200-day simple moving average is $49.29.

Omega Flex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, December 19th. This represents a $1.36 dividend on an annualized basis and a yield of 3.22%. Omega Flex’s payout ratio is 75.14%.

Omega Flex 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.