Bank of New York Mellon Corp lifted its holdings in shares of Omega Flex, Inc. (NASDAQ:OFLX - Free Report) by 34.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,459 shares of the industrial products company's stock after acquiring an additional 15,242 shares during the quarter. Bank of New York Mellon Corp owned 0.59% of Omega Flex worth $2,495,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Exchange Traded Concepts LLC grew its stake in Omega Flex by 13.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,776 shares of the industrial products company's stock valued at $284,000 after purchasing an additional 804 shares during the period. Inspire Investing LLC grew its position in Omega Flex by 10.7% during the fourth quarter. Inspire Investing LLC now owns 19,162 shares of the industrial products company's stock valued at $804,000 after buying an additional 1,856 shares during the period. JPMorgan Chase & Co. grew its position in Omega Flex by 51.2% during the third quarter. JPMorgan Chase & Co. now owns 13,512 shares of the industrial products company's stock valued at $675,000 after buying an additional 4,578 shares during the period. Barclays PLC increased its holdings in Omega Flex by 405.9% during the third quarter. Barclays PLC now owns 6,450 shares of the industrial products company's stock worth $323,000 after buying an additional 5,175 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Omega Flex by 2.7% in the third quarter. Geode Capital Management LLC now owns 89,362 shares of the industrial products company's stock worth $4,461,000 after acquiring an additional 2,358 shares during the period. 36.06% of the stock is owned by hedge funds and other institutional investors.
Omega Flex Stock Performance
NASDAQ OFLX traded down $0.79 on Monday, hitting $38.17. 54,974 shares of the stock traded hands, compared to its average volume of 22,936. The firm has a market capitalization of $385.29 million, a price-to-earnings ratio of 21.09 and a beta of 0.26. The business's fifty day moving average is $38.91 and its two-hundred day moving average is $44.84. Omega Flex, Inc. has a 12 month low of $34.39 and a 12 month high of $75.15.
Omega Flex (NASDAQ:OFLX - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The industrial products company reported $0.46 earnings per share for the quarter. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%. The company had revenue of $26.97 million during the quarter.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded shares of Omega Flex from a "buy" rating to a "hold" rating in a research report on Friday, March 7th.
Check Out Our Latest Report on Omega Flex
About Omega Flex
(
Free Report)
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; containment pining; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.
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