BlackRock Inc. Acquires 20,506 Shares of Omega Flex, Inc. (NASDAQ:OFLX)

BlackRock Inc. raised its holdings in shares of Omega Flex, Inc. (NASDAQ:OFLX) by 12.2% during the second quarter, Holdings Channel.com reports. The fund owned 188,131 shares of the industrial products company’s stock after buying an additional 20,506 shares during the period. BlackRock Inc.’s holdings in Omega Flex were worth $14,449,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Northern Trust Corp raised its holdings in Omega Flex by 1.6% during the second quarter. Northern Trust Corp now owns 45,913 shares of the industrial products company’s stock valued at $3,527,000 after acquiring an additional 745 shares during the period. Bank of New York Mellon Corp raised its holdings in Omega Flex by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 41,049 shares of the industrial products company’s stock valued at $3,154,000 after acquiring an additional 3,277 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Omega Flex by 3.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 16,990 shares of the industrial products company’s stock valued at $1,306,000 after acquiring an additional 525 shares during the period. Wells Fargo & Company MN raised its holdings in Omega Flex by 6.0% during the second quarter. Wells Fargo & Company MN now owns 13,225 shares of the industrial products company’s stock valued at $1,016,000 after acquiring an additional 746 shares during the period. Finally, Swiss National Bank raised its holdings in Omega Flex by 3.6% during the second quarter. Swiss National Bank now owns 5,700 shares of the industrial products company’s stock valued at $438,000 after acquiring an additional 200 shares during the period. 26.70% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:OFLX opened at $90.85 on Friday. The company has a quick ratio of 3.94, a current ratio of 4.52 and a debt-to-equity ratio of 0.01. The business’s 50-day simple moving average is $94.34 and its two-hundred day simple moving average is $84.48. The stock has a market cap of $894.33 million, a PE ratio of 48.56 and a beta of 0.87. Omega Flex, Inc. has a 52 week low of $51.02 and a 52 week high of $102.65.

Omega Flex (NASDAQ:OFLX) last posted its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.33 EPS for the quarter. The business had revenue of $28.03 million for the quarter. Omega Flex had a return on equity of 29.03% and a net margin of 17.84%.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Friday, September 20th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, September 19th. This represents a $1.12 dividend on an annualized basis and a yield of 1.23%.

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

Omega Flex Company Profile

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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