Key Points
- CEO Dean Rivest purchased 1,000 shares on March 11 at an average price of $29.50 (totaling $29,500), a transaction disclosed in an SEC filing.
- The company reported $0.34 EPS last quarter on $25.21 million of revenue, with a 17.7% return on equity and a 15.08% net margin.
- Despite insider buying, Omega Flex carries an average "Sell" analyst rating (Weiss Ratings reiterated a Sell) while several institutions modestly added positions; market cap is about $286 million and roughly 36.06% of the stock is institutionally owned.
Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report) CEO Dean Rivest purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was bought at an average price of $29.50 per share, for a total transaction of $29,500.00. Following the transaction, the chief executive officer directly owned 1,000 shares in the company, valued at $29,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Omega Flex Stock Up 0.4%
OFLX opened at $28.34 on Friday. The business has a 50 day moving average price of $33.80 and a two-hundred day moving average price of $31.38. The company has a market cap of $285.95 million, a PE ratio of 19.28 and a beta of 0.42. Omega Flex, Inc. has a 52 week low of $25.58 and a 52 week high of $42.08.
Omega Flex (NASDAQ:OFLX - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The industrial products company reported $0.34 earnings per share for the quarter. The company had revenue of $25.21 million during the quarter. Omega Flex had a return on equity of 17.70% and a net margin of 15.08%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Omega Flex in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".
Get Our Latest Report on OFLX
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in OFLX. CANADA LIFE ASSURANCE Co acquired a new stake in Omega Flex in the fourth quarter valued at about $32,000. Russell Investments Group Ltd. increased its position in Omega Flex by 65.2% during the 4th quarter. Russell Investments Group Ltd. now owns 1,120 shares of the industrial products company's stock worth $33,000 after purchasing an additional 442 shares during the period. Comerica Bank increased its position 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 during the period. CWM LLC raised its stake in shares of Omega Flex by 129.5% during the 3rd quarter. CWM LLC now owns 4,262 shares of the industrial products company's stock worth $133,000 after buying an additional 2,405 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Omega Flex during the 1st quarter worth approximately $159,000. 36.06% of the stock is owned by hedge funds and other institutional investors.
About Omega Flex
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
