Skip to main content

Omega Flex, Inc. (NASDAQ:OFLX) Short Interest Update

Saturday, April 17, 2021 | MarketBeat

Omega Flex, Inc. (NASDAQ:OFLX) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 227,500 shares, a decline of 26.1% from the March 15th total of 308,000 shares. Based on an average trading volume of 12,000 shares, the days-to-cover ratio is currently 19.0 days. Currently, 7.5% of the shares of the company are short sold.

In other Omega Flex news, Director Stewart B. Reed sold 25,000 shares of the business's stock in a transaction on Friday, March 12th. The shares were sold at an average price of $151.00, for a total transaction of $3,775,000.00. Following the sale, the director now directly owns 844,887 shares in the company, valued at approximately $127,577,937. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stewart B. Reed sold 34,483 shares of the business's stock in a transaction on Friday, March 26th. The stock was sold at an average price of $145.00, for a total transaction of $5,000,035.00. Following the sale, the director now owns 810,404 shares in the company, valued at $117,508,580. The disclosure for this sale can be found here. Insiders own 45.01% of the company's stock.

Several institutional investors have recently added to or reduced their stakes in OFLX. Metropolitan Life Insurance Co NY acquired a new position in Omega Flex in the 1st quarter valued at about $78,000. Morgan Stanley increased its stake in shares of Omega Flex by 15.1% during the 1st quarter. Morgan Stanley now owns 25,786 shares of the industrial products company's stock valued at $2,176,000 after acquiring an additional 3,391 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Omega Flex by 10.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,083 shares of the industrial products company's stock valued at $170,000 after acquiring an additional 106 shares during the last quarter. Bennett Selby Investments LP acquired a new position in shares of Omega Flex during the 4th quarter valued at about $1,175,000. Finally, Conestoga Capital Advisors LLC grew its holdings in shares of Omega Flex by 0.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 437,749 shares of the industrial products company's stock worth $63,911,000 after purchasing an additional 2,643 shares during the period. Institutional investors and hedge funds own 33.70% of the company's stock.

Shares of NASDAQ OFLX traded up $1.36 during trading on Friday, hitting $144.39. 3,057 shares of the company were exchanged, compared to its average volume of 11,572. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 79.77 and a beta of 0.51. Omega Flex has a 1 year low of $72.95 and a 1 year high of $193.60. The firm's fifty day moving average price is $156.86 and its 200 day moving average price is $157.14.

Omega Flex (NASDAQ:OFLX) last released its quarterly earnings data on Thursday, February 11th. The industrial products company reported $0.71 EPS for the quarter. Omega Flex had a net margin of 17.60% and a return on equity of 46.30%. The business had revenue of $31.63 million for the quarter.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 14th. Investors of record on Monday, April 5th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, April 1st. This represents a $1.12 annualized dividend and a dividend yield of 0.78%.

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.

Featured Article: Key terms to understand channel trading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is a support level?

7 Stocks to Support Your New Year’s Resolutions

After a year like 2020, many Americans figure that just getting to 2021 was enough. But for many people, the start of a new year still means making resolutions. And while many Americans are still waking up to Groundhog’s Day, there is hope that things will look dramatically different in September than they do right now.

Some of the most popular resolutions include losing weight, exercising more, or taking steps to get our life and/or business more organized. And many pure-play companies lean into these trends and are doing well.

As an alternative to this, you can also invest in companies that are not pure plays but can still benefit from consumers looking to start fresh. Owning these stocks helps you manage your risk. If the trend holds, you can ride the wave. On the other hand, if the wave turns into a ripple, the stocks have other catalysts to get them through.

In this special presentation, we’ll take a look at both of these categories. We’ve got several pure-play companies that let investors buy stocks in companies benefiting from these trends. We’ll also give you a few stocks that fall in the latter category.

These are stocks that you might buy at any time and for many reasons. However, they present excellent buys as the new year begins.

View the "7 Stocks to Support Your New Year’s Resolutions".

MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.