Shares of Omega Flex, Inc. (NASDAQ:OFLX) saw unusually-strong trading volume on Thursday . Approximately 1,232 shares traded hands during trading, a decline of 88% from the previous session’s volume of 10,683 shares.The stock last traded at $136.50 and had previously closed at $135.78.
The firm has a market cap of $1.38 billion, a P/E ratio of 53.66 and a beta of 0.38. The stock’s 50 day simple moving average is $127.54 and its 200 day simple moving average is $142.04.
Omega Flex (NASDAQ:OFLX) last announced its quarterly earnings results on Wednesday, October 20th. The industrial products company reported $0.61 EPS for the quarter. The business had revenue of $31.73 million during the quarter. Omega Flex had a net margin of 20.43% and a return on equity of 50.23%.
In other news, President Mark F. Albino sold 6,174 shares of the company’s stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $140.29, for a total value of $866,150.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Mark F. Albino sold 1,153 shares of the company’s stock in a transaction on Wednesday, November 17th. The stock was sold at an average price of $140.31, for a total transaction of $161,777.43. The disclosure for this sale can be found here. Insiders have sold a total of 19,710 shares of company stock valued at $2,737,417 in the last 90 days. 43.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. grew its stake in shares of Omega Flex by 100.5% in the 3rd quarter. Citigroup Inc. now owns 409 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 205 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Omega Flex by 322.8% during the third quarter. BNP Paribas Arbitrage SA now owns 520 shares of the industrial products company’s stock valued at $74,000 after buying an additional 397 shares during the period. Metropolitan Life Insurance Co NY bought a new position in Omega Flex during the first quarter valued at about $78,000. SG Americas Securities LLC bought a new position in Omega Flex during the third quarter valued at about $162,000. Finally, Barclays PLC grew its position in Omega Flex by 213.1% during the third quarter. Barclays PLC now owns 1,287 shares of the industrial products company’s stock valued at $184,000 after buying an additional 876 shares during the period. Hedge funds and other institutional investors own 33.85% of the company’s stock.
About Omega Flex (NASDAQ:OFLX)
Omega Flex, Inc engages in the manufacture and sale of flexible metal hose and accessories. The company offers products to numerous industries, such as steel production, fuel-handling, semi-conductor, medical, pharmaceutical, petrochemical, residential and commercial construction, and power generation.
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