64,212 Shares in Omega Flex, Inc. $OFLX Purchased by Harber Asset Management LLC

Harber Asset Management LLC purchased a new stake in Omega Flex, Inc. (NASDAQ:OFLX) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 64,212 shares of the industrial products company’s stock, valued at approximately $2,016,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Omega Flex in the 2nd quarter valued at approximately $8,714,000. Principle Wealth Partners LLC purchased a new position in Omega Flex in the 2nd quarter valued at $6,036,000. Bank of New York Mellon Corp acquired a new position in Omega Flex in the 2nd quarter valued at $1,727,000. Ameriprise Financial Inc. increased its stake in Omega Flex by 47.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 148,636 shares of the industrial products company’s stock valued at $4,813,000 after buying an additional 47,582 shares during the period. Finally, Punch & Associates Investment Management Inc. purchased a new position in Omega Flex during the 1st quarter worth $1,350,000. 36.06% of the stock is 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 research note on Wednesday, July 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Omega Flex has a consensus rating of “Sell”.

Omega Flex Trading Down 1.4%

OFLX stock opened at $27.36 on Friday. The company has a market cap of $276.17 million, a P/E ratio of 22.99 and a beta of 0.45. Omega Flex, Inc. has a 52 week low of $25.58 and a 52 week high of $37.92. The company’s 50-day moving average price is $30.09 and its 200 day moving average price is $31.43.

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

Omega Flex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, June 23rd. Omega Flex’s dividend payout ratio (DPR) is presently 114.29%.

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.