Proficio Capital Partners LLC Makes New Investment in Omega Flex, Inc. (NASDAQ:OFLX)

Proficio Capital Partners LLC acquired a new stake in Omega Flex, Inc. (NASDAQ:OFLX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Omega Flex by 2.7% during the third quarter. Geode Capital Management LLC now owns 89,362 shares of the industrial products company's stock worth $4,461,000 after purchasing an additional 2,358 shares in the last quarter. State Street Corp increased its holdings in shares of Omega Flex by 3.4% in the 3rd 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 last quarter. Bank of New York Mellon Corp raised its position in shares of 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 worth $2,495,000 after acquiring an additional 15,242 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Omega Flex by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,952 shares of the industrial products company's stock worth $1,395,000 after purchasing an additional 932 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake 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 worth $804,000 after purchasing an additional 1,856 shares during the last quarter. 36.06% of the stock is currently owned by institutional investors and hedge funds.

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Omega Flex Trading Up 0.1 %

NASDAQ:OFLX traded up $0.04 during midday trading on Thursday, hitting $40.09. 14,774 shares of the company were exchanged, compared to its average volume of 19,607. Omega Flex, Inc. has a fifty-two week low of $34.39 and a fifty-two week high of $75.14. The company has a market capitalization of $404.67 million, a PE ratio of 22.15 and a beta of 0.26. The company has a fifty day simple moving average of $38.93 and a 200 day simple moving average of $45.19.

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

Analyst Upgrades and Downgrades

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

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; containment pining; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.