Shares of Omega Flex, Inc. (NASDAQ:OFLX) gapped down prior to trading on Tuesday . The stock had previously closed at $152.36, but opened at $146.28. Omega Flex shares last traded at $150.50, with a volume of 42 shares changing hands.
The stock has a fifty day moving average price of $157.25 and a two-hundred day moving average price of $157.09. The company has a market cap of $1.48 billion, a P/E ratio of 81.13 and a beta of 0.51.
Omega Flex (NASDAQ:OFLX) last posted its earnings results on Thursday, February 11th. The industrial products company reported $0.71 earnings per share for the quarter. Omega Flex had a return on equity of 46.30% and a net margin of 17.60%. The company had revenue of $31.63 million for the quarter.
In related news, Director Stewart B. Reed sold 34,483 shares of the stock in a transaction that occurred on Friday, March 26th. The stock was sold at an average price of $145.00, for a total transaction of $5,000,035.00. Following the completion of the sale, the director now directly owns 810,404 shares of the company’s stock, valued at $117,508,580. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stewart B. Reed sold 25,000 shares of the stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $151.00, for a total value of $3,775,000.00. Following the sale, the director now directly owns 844,887 shares of the company’s stock, valued at $127,577,937. The disclosure for this sale can be found here. Company insiders own 45.01% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC purchased a new stake in Omega Flex in the fourth quarter worth $33,000. Citigroup Inc. increased its position in Omega Flex by 402.9% in the fourth quarter. Citigroup Inc. now owns 860 shares of the industrial products company’s stock worth $126,000 after buying an additional 689 shares during the last quarter. Metropolitan Life Insurance Co NY purchased a new stake in Omega Flex in the first quarter worth $78,000. JPMorgan Chase & Co. increased its position in Omega Flex by 10.8% in the third quarter. JPMorgan Chase & Co. now owns 1,083 shares of the industrial products company’s stock worth $170,000 after buying an additional 106 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in Omega Flex in the fourth quarter worth $219,000. 33.70% of the stock is owned by institutional investors and hedge funds.
About Omega Flex (NASDAQ:OFLX)
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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