Omega Flex (NASDAQ:OFLX) Hits New 12-Month Low at $92.21

Shares of Omega Flex, Inc. (NASDAQ:OFLXGet Rating) hit a new 52-week low on Friday . The company traded as low as $92.21 and last traded at $92.21, with a volume of 60 shares changing hands. The stock had previously closed at $98.24.

Omega Flex Price Performance

The stock has a market capitalization of $948.46 million, a price-to-earnings ratio of 40.26 and a beta of 0.47. The business’s 50-day simple moving average is $111.18 and its two-hundred day simple moving average is $114.47.

Omega Flex (NASDAQ:OFLXGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The industrial products company reported $0.54 earnings per share (EPS) for the quarter. The business had revenue of $31.75 million during the quarter. Omega Flex had a net margin of 18.92% and a return on equity of 40.35%.

Insiders Place Their Bets

In other Omega Flex news, Director Mark F. Albino sold 10,000 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $117.87, for a total transaction of $1,178,700.00. Following the sale, the director now owns 249,532 shares in the company, valued at approximately $29,412,336.84. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Mark F. Albino sold 888 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $119.43, for a total value of $106,053.84. Following the transaction, the director now owns 269,209 shares in the company, valued at approximately $32,151,630.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark F. Albino sold 10,000 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $117.87, for a total value of $1,178,700.00. Following the completion of the transaction, the director now owns 249,532 shares in the company, valued at approximately $29,412,336.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,466 shares of company stock worth $2,784,543. Company insiders own 41.50% of the company’s stock.

Hedge Funds Weigh In On Omega Flex

A number of hedge funds have recently added to or reduced their stakes in the company. Cim LLC increased its holdings in Omega Flex by 3.6% in the first quarter. Cim LLC now owns 2,757 shares of the industrial products company’s stock worth $358,000 after buying an additional 97 shares during the last quarter. Bennett Selby Investments LP increased its holdings in Omega Flex by 1.2% in the first quarter. Bennett Selby Investments LP now owns 8,399 shares of the industrial products company’s stock worth $1,091,000 after buying an additional 100 shares during the last quarter. Strs Ohio increased its holdings in Omega Flex by 7.1% in the second quarter. Strs Ohio now owns 1,500 shares of the industrial products company’s stock worth $161,000 after buying an additional 100 shares during the last quarter. Legal & General Group Plc boosted its position in Omega Flex by 11.6% during the second quarter. Legal & General Group Plc now owns 1,186 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 123 shares during the period. Finally, Axxcess Wealth Management LLC boosted its position in Omega Flex by 5.9% during the second quarter. Axxcess Wealth Management LLC now owns 2,701 shares of the industrial products company’s stock worth $291,000 after purchasing an additional 150 shares during the period.

Omega Flex Company Profile

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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, 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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