Wells Fargo & Company MN Buys 746 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

Wells Fargo & Company MN lifted its stake in Omega Flex, Inc. (NASDAQ:OFLX) by 6.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,225 shares of the industrial products company’s stock after buying an additional 746 shares during the quarter. Wells Fargo & Company MN’s holdings in Omega Flex were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. BNP Paribas Arbitrage SA grew its stake in shares of Omega Flex by 60,700.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 608 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 607 shares during the period. Metropolitan Life Insurance Co NY purchased a new stake in Omega Flex in the 1st quarter worth approximately $78,000. Advisor Group Inc. increased its holdings in Omega Flex by 17.7% in the 2nd quarter. Advisor Group Inc. now owns 1,418 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 213 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in Omega Flex during the 1st quarter worth approximately $109,000. Finally, Conestoga Capital Advisors LLC raised its stake in Omega Flex by 4.0% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,195 shares of the industrial products company’s stock worth $322,000 after acquiring an additional 160 shares during the period. 26.70% of the stock is currently owned by hedge funds and other institutional investors.

Separately, BidaskClub upgraded shares of Omega Flex from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th.

Shares of OFLX stock traded down $2.25 on Tuesday, hitting $100.00. 201 shares of the stock traded hands, compared to its average volume of 24,224. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 52.19 and a beta of 0.82. Omega Flex, Inc. has a 52 week low of $51.02 and a 52 week high of $102.65. The firm has a 50 day simple moving average of $89.18 and a two-hundred day simple moving average of $82.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.52 and a quick ratio of 3.94.

Omega Flex (NASDAQ:OFLX) last issued its earnings results on Thursday, July 18th. The industrial products company reported $0.39 earnings per share for the quarter. Omega Flex had a net margin of 17.84% and a return on equity of 29.03%. The company had revenue of $26.81 million during the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Friday, September 20th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.12 dividend on an annualized basis and a yield of 1.12%.

About Omega Flex

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in the United States and internationally. It offers flexible gas piping for use in residential and commercial buildings, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

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Institutional Ownership by Quarter for Omega Flex (NASDAQ:OFLX)

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