GSA Capital Partners LLP Invests $1.09 Million in Omega Flex, Inc. $OFLX

GSA Capital Partners LLP bought a new stake in Omega Flex, Inc. (NASDAQ:OFLX) during the 2nd quarter, HoldingsChannel reports. The fund bought 34,744 shares of the industrial products company’s stock, valued at approximately $1,091,000.

A number of other institutional investors and hedge funds have also made changes to their positions in OFLX. Vanguard Group Inc. lifted its position in Omega Flex by 5.2% in the third quarter. Vanguard Group Inc. now owns 177,754 shares of the industrial products company’s stock valued at $5,543,000 after purchasing an additional 8,715 shares during the period. Ameriprise Financial Inc. increased its position in Omega Flex by 47.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 148,636 shares of the industrial products company’s stock worth $4,813,000 after purchasing an additional 47,582 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Omega Flex by 12.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 68,668 shares of the industrial products company’s stock worth $2,022,000 after buying an additional 7,502 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Omega Flex by 8.2% during the 1st quarter. Bank of New York Mellon Corp now owns 53,321 shares of the industrial products company’s stock worth $1,655,000 after buying an additional 4,055 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Omega Flex by 33.4% during the 4th quarter. Marshall Wace LLP now owns 53,106 shares of the industrial products company’s stock worth $1,563,000 after buying an additional 13,289 shares in the last quarter. 36.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Omega Flex in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Omega Flex Stock Down 0.8%

Shares of OFLX opened at $28.45 on Tuesday. Omega Flex, Inc. has a 52-week low of $25.58 and a 52-week high of $37.92. The company has a 50-day simple moving average of $30.33 and a 200-day simple moving average of $31.55. The company has a market capitalization of $287.06 million, a PE ratio of 23.91 and a beta of 0.45.

Omega Flex (NASDAQ:OFLX) last released its quarterly earnings data on Wednesday, August 12th. The industrial products company reported $0.27 EPS for the quarter. Omega Flex had a net margin of 12.27% and a return on equity of 14.26%. The firm had revenue of $24.06 million for the quarter.

Omega Flex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, June 23rd. Omega Flex’s dividend payout ratio (DPR) is presently 114.29%.

About Omega Flex

Omega Flex, Inc designs, manufactures and distributes flexible metal tubing and related products that enable the safe and efficient conveyance of natural gas and other hydrocarbon fuels. The company’s engineered solutions offer leak-resistant connections and installation flexibility, serving original equipment manufacturers, distributors and end-users across residential, commercial and industrial markets.

Its product portfolio includes corrugated stainless steel tubing (CSST), stainless steel hose assemblies, mechanical connectors, fittings, leak detection equipment and specialized installation tools.