Omega Flex (NASDAQ:OFLX – Get Free Report) released its quarterly earnings data on Wednesday. The industrial products company reported $0.48 earnings per share for the quarter, reports. Omega Flex had a net margin of 18.63% and a return on equity of 27.56%. The business had revenue of $28.15 million during the quarter.
Omega Flex Stock Performance
Shares of NASDAQ OFLX opened at $68.84 on Friday. Omega Flex has a fifty-two week low of $63.43 and a fifty-two week high of $117.63. The stock has a market cap of $694.60 million, a PE ratio of 33.58 and a beta of 0.37. The stock has a fifty day moving average of $71.04 and a 200-day moving average of $74.77.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Omega Flex by 0.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,112,714 shares of the industrial products company’s stock valued at $115,477,000 after acquiring an additional 3,944 shares during the last quarter. Neuberger Berman Group LLC lifted its position in Omega Flex by 1.1% during the third quarter. Neuberger Berman Group LLC now owns 470,126 shares of the industrial products company’s stock valued at $43,543,000 after purchasing an additional 4,936 shares during the last quarter. BlackRock Inc. lifted its position in Omega Flex by 6.6% during the second quarter. BlackRock Inc. now owns 302,351 shares of the industrial products company’s stock valued at $31,378,000 after purchasing an additional 18,649 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Omega Flex by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 255,575 shares of the industrial products company’s stock worth $26,524,000 after buying an additional 1,415 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Omega Flex by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 159,473 shares of the industrial products company’s stock worth $11,244,000 after buying an additional 2,754 shares during the last quarter. Hedge funds and other institutional investors own 37.65% of the company’s stock.
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; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.
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