EntryPoint Capital LLC Grows Stake in Omega Flex, Inc. (NASDAQ:OFLX)

EntryPoint Capital LLC raised its stake in Omega Flex, Inc. (NASDAQ:OFLX) by 577.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,836 shares of the industrial products company’s stock after acquiring an additional 1,565 shares during the period. EntryPoint Capital LLC’s holdings in Omega Flex were worth $130,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of OFLX. Norden Group LLC purchased a new stake in shares of Omega Flex in the first quarter worth $3,513,000. Cim LLC bought a new position in shares of Omega Flex in the fourth quarter worth about $296,000. Virtu Financial LLC bought a new position in shares of Omega Flex in the fourth quarter worth about $280,000. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 2,411 shares during the period. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Omega Flex in the first quarter worth about $128,000. 36.06% of the stock is owned by hedge funds and other institutional investors.

Omega Flex Stock Performance

Shares of NASDAQ OFLX traded up $0.78 during trading on Friday, hitting $52.73. The company had a trading volume of 7,242 shares, compared to its average volume of 20,309. Omega Flex, Inc. has a 12 month low of $47.79 and a 12 month high of $91.99. The stock has a 50 day simple moving average of $56.13 and a 200 day simple moving average of $65.15. The firm has a market capitalization of $521.46 million, a P/E ratio of 27.34 and a beta of 0.38.

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

Omega Flex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Wednesday, June 26th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, June 26th. This represents a $1.36 annualized dividend and a dividend yield of 2.58%. This is a boost from Omega Flex’s previous quarterly dividend of $0.33. Omega Flex’s dividend payout ratio (DPR) is currently 71.58%.

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.