Omega Flex (OFLX) Cut to Buy at BidaskClub

BidaskClub downgraded shares of Omega Flex (NASDAQ:OFLX) from a strong-buy rating to a buy rating in a research note published on Saturday.

Shares of Omega Flex stock opened at $64.52 on Friday. The company has a market capitalization of $640.63 million, a P/E ratio of 34.69 and a beta of 1.07. Omega Flex has a 52 week low of $51.02 and a 52 week high of $95.00.

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Several institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers purchased a new position in Omega Flex during the 4th quarter worth approximately $213,000. O Shaughnessy Asset Management LLC purchased a new position in Omega Flex during the 3rd quarter worth approximately $288,000. Wells Fargo & Company MN raised its position in Omega Flex by 26.9% during the 3rd quarter. Wells Fargo & Company MN now owns 11,757 shares of the industrial products company’s stock worth $836,000 after buying an additional 2,494 shares during the last quarter. California Public Employees Retirement System raised its position in Omega Flex by 5.0% during the 2nd quarter. California Public Employees Retirement System now owns 18,067 shares of the industrial products company’s stock worth $1,429,000 after buying an additional 867 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Omega Flex by 21.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 25,130 shares of the industrial products company’s stock worth $1,989,000 after buying an additional 4,374 shares during the last quarter. 26.37% of the stock is owned by hedge funds and other institutional investors.

About Omega Flex

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

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