Omega Flex, Inc. (NASDAQ:OFLX) Stock Position Lessened by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of Omega Flex, Inc. (NASDAQ:OFLX) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,543 shares of the industrial products company’s stock after selling 728 shares during the period. Rhumbline Advisers owned approximately 0.05% of Omega Flex worth $233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of OFLX. Los Angeles Capital Management LLC lifted its position in Omega Flex by 5.1% in the third quarter. Los Angeles Capital Management LLC now owns 5,560 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 270 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Omega Flex by 13.5% in the 4th 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. Charles Schwab Investment Management Inc. raised its stake in shares of Omega Flex by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,952 shares of the industrial products company’s stock worth $1,395,000 after buying an additional 932 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Omega Flex by 11.2% in the third quarter. Daiwa Securities Group Inc. now owns 16,853 shares of the industrial products company’s stock valued at $841,000 after buying an additional 1,696 shares during the period. Finally, US Bancorp DE boosted its stake in Omega Flex by 38.5% during the third quarter. US Bancorp DE now owns 6,439 shares of the industrial products company’s stock valued at $321,000 after buying an additional 1,789 shares in the last quarter. 36.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Omega Flex from a “buy” rating to a “hold” rating in a research report on Friday.

Omega Flex Price Performance

NASDAQ OFLX opened at $38.68 on Monday. Omega Flex, Inc. has a 12 month low of $34.39 and a 12 month high of $75.14. The company has a market capitalization of $390.44 million, a P/E ratio of 21.37 and a beta of 0.26. The company’s 50 day simple moving average is $39.07 and its 200 day simple moving average is $45.32.

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

About Omega Flex

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.