Proficio Capital Partners LLC Takes Position in Omega Flex, Inc. (NASDAQ:OFLX)

Proficio Capital Partners LLC bought a new stake in shares of Omega Flex, Inc. (NASDAQ:OFLX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,452 shares of the industrial products company's stock, valued at approximately $690,000. Proficio Capital Partners LLC owned about 0.16% of Omega Flex as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of OFLX. JPMorgan Chase & Co. lifted its stake 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 in the last quarter. State Street Corp raised its holdings in shares of Omega Flex by 3.4% during the third quarter. State Street Corp now owns 74,196 shares of the industrial products company's stock valued at $3,729,000 after acquiring an additional 2,433 shares during the period. Geode Capital Management LLC lifted its position in shares of Omega Flex by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 89,362 shares of the industrial products company's stock valued at $4,461,000 after acquiring an additional 2,358 shares in the last quarter. Barclays PLC boosted its stake in Omega Flex by 405.9% in the 3rd quarter. Barclays PLC now owns 6,450 shares of the industrial products company's stock worth $323,000 after purchasing an additional 5,175 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Omega Flex by 34.5% during the 4th quarter. Bank of New York Mellon Corp now owns 59,459 shares of the industrial products company's stock valued at $2,495,000 after purchasing an additional 15,242 shares during the period. Institutional investors and hedge funds own 36.06% of the company's stock.

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Omega Flex Trading Down 0.3 %

NASDAQ OFLX traded down $0.11 during trading on Wednesday, reaching $36.83. 16,046 shares of the company's stock were exchanged, compared to its average volume of 23,088. The firm has a market capitalization of $371.76 million, a PE ratio of 20.35 and a beta of 0.26. Omega Flex, Inc. has a fifty-two week low of $34.39 and a fifty-two week high of $75.15. The company's fifty day simple moving average is $38.78 and its 200-day simple moving average is $44.72.

Omega Flex (NASDAQ:OFLX - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The industrial products company reported $0.46 EPS for the quarter. The business had revenue of $26.97 million during the quarter. Omega Flex had a net margin of 17.71% and a return on equity of 22.68%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Omega Flex from a "buy" rating to a "hold" rating in a report on Friday, March 7th.

Omega Flex Company Profile

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.