Omega Flex, Inc. (NASDAQ:OFLX) Short Interest Down 20.1% in March

Omega Flex, Inc. (NASDAQ:OFLX) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 41,700 shares, a decrease of 20.1% from the March 15th total of 52,200 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily volume of 23,800 shares, the short-interest ratio is presently 1.8 days.

Institutional Investors Weigh In On Omega Flex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Omega Flex by 4,271.4% during the 1st quarter. GAMMA Investing LLC now owns 1,530 shares of the industrial products company’s stock valued at $53,000 after buying an additional 1,495 shares in the last quarter. State of Wyoming purchased a new stake in Omega Flex in the 4th quarter worth approximately $135,000. Norden Group LLC bought a new position in Omega Flex in the 4th quarter valued at $243,000. Bank of America Corp DE raised its position in shares of Omega Flex by 16.0% in the fourth quarter. Bank of America Corp DE now owns 6,507 shares of the industrial products company’s stock worth $273,000 after buying an additional 897 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in Omega Flex by 13.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,776 shares of the industrial products company’s stock worth $284,000 after buying an additional 804 shares in the last quarter. Institutional investors own 36.06% of the company’s stock.

Omega Flex Stock Performance

OFLX traded up $0.16 during mid-day trading on Tuesday, reaching $29.16. 6,879 shares of the stock were exchanged, compared to its average volume of 24,937. The stock has a market capitalization of $294.30 million, a PE ratio of 15.99 and a beta of 0.38. Omega Flex has a 1 year low of $28.12 and a 1 year high of $68.50. The company has a 50 day moving average price of $35.53 and a two-hundred day moving average price of $42.16.

Omega Flex (NASDAQ:OFLX) last announced its quarterly earnings data on Wednesday, March 5th. The industrial products company reported $0.46 EPS for the quarter. Omega Flex had a net margin of 17.71% and a return on equity of 22.68%. The business had revenue of $26.97 million for the quarter.

Omega Flex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Thursday, April 10th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.66%. The ex-dividend date is Thursday, April 10th. Omega Flex’s dividend payout ratio (DPR) is presently 75.98%.

Analysts Set New Price Targets

Separately, StockNews.com raised Omega Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, April 8th.

Omega Flex Company Profile

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in North America and internationally. It offers flexible gas piping for use in residential and commercial buildings; fittings; containment pining; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.