Norden Group LLC Invests $243,000 in Omega Flex, Inc. (NASDAQ:OFLX)

Norden Group LLC purchased a new stake in shares of Omega Flex, Inc. (NASDAQ:OFLX) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,792 shares of the industrial products company’s stock, valued at approximately $243,000. Norden Group LLC owned approximately 0.06% of Omega Flex at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in Omega Flex in the 4th quarter valued at about $690,000. Bank of New York Mellon Corp increased its position in shares of Omega Flex by 34.5% during the fourth quarter. Bank of New York Mellon Corp now owns 59,459 shares of the industrial products company’s stock valued at $2,495,000 after acquiring an additional 15,242 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Omega Flex by 13.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,776 shares of the industrial products company’s stock worth $284,000 after acquiring an additional 804 shares during the period. Inspire Investing LLC boosted its position in Omega Flex by 10.7% in the fourth quarter. Inspire Investing LLC now owns 19,162 shares of the industrial products company’s stock worth $804,000 after purchasing an additional 1,856 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Omega Flex by 51.2% in the third quarter. JPMorgan Chase & Co. now owns 13,512 shares of the industrial products company’s stock worth $675,000 after purchasing an additional 4,578 shares during the last quarter. 36.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Omega Flex Stock Performance

Shares of OFLX stock opened at $35.91 on Wednesday. The firm has a market cap of $362.48 million, a price-to-earnings ratio of 19.84 and a beta of 0.38. Omega Flex, Inc. has a 52 week low of $34.39 and a 52 week high of $75.14. The firm’s 50-day simple moving average is $39.37 and its two-hundred day simple moving average is $45.51.

Omega Flex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Thursday, December 19th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.79%. Omega Flex’s dividend payout ratio (DPR) is presently 75.14%.

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.