Omega Flex, Inc. (NASDAQ:OFLX) President Sells $678,856.60 in Stock

Omega Flex, Inc. (NASDAQ:OFLX) President Mark F. Albino sold 4,910 shares of the business’s stock in a transaction dated Friday, November 19th. The shares were sold at an average price of $138.26, for a total value of $678,856.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

NASDAQ:OFLX opened at $135.00 on Thursday. The firm’s 50-day moving average is $143.16. Omega Flex, Inc. has a 52-week low of $133.91 and a 52-week high of $193.60. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 52.94 and a beta of 0.37.

Omega Flex (NASDAQ:OFLX) last released its quarterly earnings results on Wednesday, October 20th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter. Omega Flex had a return on equity of 50.23% and a net margin of 20.43%. The business had revenue of $31.73 million during the quarter.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 4th. Stockholders of record on Monday, September 27th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, September 24th. Omega Flex’s dividend payout ratio (DPR) is 47.06%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank boosted its stake in shares of Omega Flex by 12.9% in the third quarter. Comerica Bank now owns 43,762 shares of the industrial products company’s stock worth $6,107,000 after acquiring an additional 4,994 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Omega Flex by 4.5% in the third quarter. Bank of New York Mellon Corp now owns 30,594 shares of the industrial products company’s stock worth $4,366,000 after acquiring an additional 1,329 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Omega Flex by 322.8% in the third quarter. BNP Paribas Arbitrage SA now owns 520 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 397 shares during the period. Royal Bank of Canada boosted its stake in shares of Omega Flex by 6.8% in the third quarter. Royal Bank of Canada now owns 22,706 shares of the industrial products company’s stock worth $3,240,000 after acquiring an additional 1,448 shares during the period. Finally, Invesco Ltd. bought a new position in shares of Omega Flex in the third quarter worth about $202,000. 37.03% of the stock is owned by hedge funds and other institutional investors.

About Omega Flex

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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