Azzad Asset Management Inc. ADV Trims Position in Omega Flex, Inc. (NASDAQ:OFLX)

Azzad Asset Management Inc. ADV lowered its holdings in Omega Flex, Inc. (NASDAQ:OFLX) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,568 shares of the industrial products company’s stock after selling 218 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Omega Flex were worth $750,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in shares of Omega Flex during the 4th quarter valued at about $37,000. Portside Wealth Group LLC grew its holdings 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 during the period. Cim LLC acquired a new position in Omega Flex during the fourth quarter worth approximately $296,000. Finally, Virtu Financial LLC purchased a new position in Omega Flex during the fourth quarter worth approximately $280,000. 36.06% of the stock is currently owned by institutional investors and hedge funds.

Omega Flex Trading Up 0.1 %

Shares of OFLX traded up $0.05 during mid-day trading on Wednesday, reaching $50.90. The company had a trading volume of 8,809 shares, compared to its average volume of 19,264. Omega Flex, Inc. has a fifty-two week low of $49.93 and a fifty-two week high of $101.50. The firm has a fifty day simple moving average of $61.37 and a 200-day simple moving average of $67.95. The stock has a market cap of $513.58 million, a price-to-earnings ratio of 26.76 and a beta of 0.38.

Omega Flex (NASDAQ:OFLX) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $0.42 earnings per share for the quarter. The firm had revenue of $25.22 million for the quarter. Omega Flex had a return on equity of 24.76% and a net margin of 18.03%.

Omega Flex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 26th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.67%. This is a boost from Omega Flex’s previous quarterly dividend of $0.33. Omega Flex’s payout ratio is presently 71.58%.

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.