Harber Asset Management LLC Buys New Stake in Omega Flex, Inc. $OFLX

Harber Asset Management LLC acquired a new stake in Omega Flex, Inc. (NASDAQ:OFLX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 64,212 shares of the industrial products company’s stock, valued at approximately $2,016,000. Harber Asset Management LLC owned approximately 0.64% of Omega Flex at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OFLX. CANADA LIFE ASSURANCE Co purchased a new position in shares of Omega Flex in the fourth quarter valued at approximately $32,000. Russell Investments Group Ltd. boosted its holdings in Omega Flex by 65.2% in the fourth quarter. Russell Investments Group Ltd. now owns 1,120 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 442 shares during the period. Comerica Bank grew its stake in Omega Flex by 313.1% during the 4th quarter. Comerica Bank now owns 1,231 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 933 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Omega Flex during the 1st quarter worth about $46,000. Finally, Versant Capital Management Inc boosted its stake in shares of Omega Flex by 912.1% in the 2nd quarter. Versant Capital Management Inc now owns 1,670 shares of the industrial products company’s stock valued at $52,000 after buying an additional 1,505 shares during the period. 36.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Omega Flex in a report on Wednesday, July 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Omega Flex Price Performance

NASDAQ OFLX opened at $27.36 on Friday. The company has a fifty day moving average of $30.09 and a two-hundred day moving average of $31.43. The company has a market capitalization of $276.17 million, a PE ratio of 22.99 and a beta of 0.45. Omega Flex, Inc. has a 1 year low of $25.58 and a 1 year high of $37.92.

Omega Flex (NASDAQ:OFLX) last posted its earnings results on Wednesday, August 12th. The industrial products company reported $0.27 earnings per share for the quarter. The business had revenue of $24.06 million during the quarter. Omega Flex had a return on equity of 14.26% and a net margin of 12.27%.

Omega Flex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.0%. Omega Flex’s dividend payout ratio (DPR) is 114.29%.

Omega Flex 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.