BidaskClub upgraded shares of Omega Flex (NASDAQ:OFLX) from a buy rating to a strong-buy rating in a report published on Wednesday morning, BidAskClub reports.

Shares of NASDAQ OFLX traded up $0.03 during midday trading on Wednesday, reaching $78.95. 23 shares of the stock were exchanged, compared to its average volume of 12,339. The stock has a market cap of $796.61 million, a price-to-earnings ratio of 39.60 and a beta of 1.08. Omega Flex has a 12 month low of $51.02 and a 12 month high of $95.00.

Omega Flex (NASDAQ:OFLX) last posted its quarterly earnings data on Thursday, February 7th. The industrial products company reported $0.60 EPS for the quarter. The business had revenue of $28.87 million for the quarter. Omega Flex had a net margin of 18.59% and a return on equity of 32.25%.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Monday, April 22nd will be paid a $0.24 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.96 annualized dividend and a yield of 1.22%.

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Omega Flex by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 46,630 shares of the industrial products company’s stock valued at $2,521,000 after buying an additional 2,326 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Omega Flex by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 297,568 shares of the industrial products company’s stock valued at $16,090,000 after buying an additional 3,518 shares during the last quarter. Millennium Management LLC acquired a new stake in Omega Flex in the 4th quarter valued at $341,000. Ranger Investment Management L.P. increased its stake in Omega Flex by 56.3% in the 4th quarter. Ranger Investment Management L.P. now owns 79,545 shares of the industrial products company’s stock valued at $4,301,000 after buying an additional 28,655 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in Omega Flex by 18.3% in the 4th quarter. Advisor Group Inc. now owns 1,203 shares of the industrial products company’s stock valued at $65,000 after buying an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 27.06% of the company’s stock.

About Omega Flex

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in the United States and internationally. It offers flexible gas piping for use in residential and commercial buildings, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

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