Dean Rivest Acquires 1,000 Shares of Omega Flex (NASDAQ:OFLX) Stock

Omega Flex, Inc. (NASDAQ:OFLX) CEO Dean Rivest purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average cost of $29.50 per share, with a total value of $29,500.00. Following the completion of the acquisition, the chief executive officer directly owned 1,000 shares of the company’s stock, valued at $29,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Omega Flex Stock Up 0.4%

Shares of Omega Flex stock opened at $28.34 on Friday. Omega Flex, Inc. has a 52 week low of $25.58 and a 52 week high of $42.08. The firm’s 50 day moving average is $33.80 and its two-hundred day moving average is $31.35. The firm has a market capitalization of $285.95 million, a P/E ratio of 19.28 and a beta of 0.42.

Omega Flex (NASDAQ:OFLX) last issued its quarterly earnings data on Thursday, March 12th. The industrial products company reported $0.34 earnings per share for the quarter. Omega Flex had a net margin of 15.08% and a return on equity of 17.70%. The business had revenue of $25.21 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Omega Flex in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Omega Flex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Omega Flex in the fourth quarter valued at approximately $32,000. Russell Investments Group Ltd. increased its holdings in shares of Omega Flex by 65.2% in the 4th quarter. Russell Investments Group Ltd. now owns 1,120 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 442 shares during the period. Comerica Bank raised its position in Omega Flex by 313.1% in the 4th quarter. Comerica Bank now owns 1,231 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 933 shares during the last quarter. CWM LLC raised its position in Omega Flex by 129.5% in the 3rd quarter. CWM LLC now owns 4,262 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 2,405 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Omega Flex during the 1st quarter worth $159,000. Hedge funds and other institutional investors own 36.06% of the company’s stock.

Omega Flex Company Profile

Omega Flex, Inc designs, manufactures and distributes flexible metal tubing and related products that enable the safe and efficient conveyance of natural gas and other hydrocarbon fuels. The company’s engineered solutions offer leak-resistant connections and installation flexibility, serving original equipment manufacturers, distributors and end-users across residential, commercial and industrial markets.

Its product portfolio includes corrugated stainless steel tubing (CSST), stainless steel hose assemblies, mechanical connectors, fittings, leak detection equipment and specialized installation tools.