American Century Companies Inc. buy 1,673 shares of Omega Flex, Inc. (NASDAQ:OFLX)

VaselineOctober 5, 2024

0 2 minutes read

American Century Companies Inc. raised its stake in Omega Flex, Inc. (NASDAQ:OFLX – Free Report) by 50.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,006 shares of the industrial products company’s stock after acquiring an additional 1,673 shares during the period. Holdings held by American Century Companies Inc. holdings in Omega Flex were worth $257,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OFLX. Norden Group LLC purchased a new stake in Omega Flex in the 1st quarter worth $3,513,000. Vanguard Group Inc. boosted its stake in Omega Flex by 1.5% in the first quarter. Vanguard Group Inc. now owns 161,884 shares of the industrial products company’s stock worth $11,482,000 after purchasing an additional 2,411 shares during the period. Sei Investments Co. boosted its stake in Omega Flex by 1.5% in the first quarter. Sei Investments Co. now owns 23,694 shares of the industrial products company’s stock worth $1,681,000 after buying an additional 348 shares during the period. Virtu Financial LLC purchased a new stake in Omega Flex in the fourth quarter valued at $280,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Omega Flex during the second quarter valued at $271,000. 36.06% of shares are currently owned by institutional investors.

Analysts set new price targets

Separately, StockNews.com raised Omega Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 9th.

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Read the latest stock analysis on Omega Flex

Omega Flex Trading Up 1.6%

Shares of Omega Flex opened at $49.00 on Friday. The company has a market cap of $494.41 million, a PE ratio of 25.79 and a beta of 0.39. Omega Flex, Inc. has a 12-month low of $43.86 and a 12-month high of $85.92. The stock’s fifty-day simple moving average is $48.28, and its 200-day simple moving average is $57.09.

Omega Flex (NASDAQ:OFLX – Get Your Free Report ) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.45 earnings per share (EPS) for the quarter. Omega Flex had a return on equity of 24.24% and a net margin of 18.18%. The firm had revenue of $24.62 million for the quarter.

Omega Flex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Thursday, September 26th will be given a $0.34 dividend. This represents an annualized dividend of $1.36 and a dividend yield of 2.78%. The ex-dividend date is Thursday, September 26. Omega Flex’s dividend payout ratio is 71.58%.

About Omega Flex

(Free report)

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and fittings in North America and internationally. Provides flexible gas piping for use in residential and commercial buildings; fittings; insulation pinning; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, medical and veterinary clinics, laboratories and other facilities.