Central Securities (NYSE:CET) Reaches New 12-Month High Following Dividend Announcement

Central Securities Co. (NYSE:CET)’s stock price reached a new 52-week high during trading on Wednesday after the company announced a dividend. The stock traded as high as $47.90 and last traded at $47.90, with a volume of 153 shares traded. The stock had previously closed at $47.13.

The newly announced dividend which will be paid on Friday, December 20th. Investors of record on Friday, November 15th will be given a dividend of $2.05 per share. The ex-dividend date is Friday, November 15th. This is a boost from Central Securities’s previous semi-annual dividend of $0.20. This represents a yield of 1.3%.

Central Securities Trading Up 0.3 %

The firm has a 50-day moving average of $45.93 and a 200 day moving average of $44.13.

Insider Activity at Central Securities

In related news, VP Andrew J. O’neill bought 1,080 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $46.09 per share, for a total transaction of $49,777.20. Following the purchase, the vice president now owns 84,916 shares in the company, valued at $3,913,778.44. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Central Securities news, CEO John C. Hill purchased 600 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $46.71 per share, for a total transaction of $28,026.00. Following the completion of the transaction, the chief executive officer now owns 69,296 shares in the company, valued at approximately $3,236,816.16. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, VP Andrew J. O’neill purchased 1,080 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was acquired at an average price of $46.09 per share, with a total value of $49,777.20. Following the completion of the transaction, the vice president now owns 84,916 shares of the company’s stock, valued at $3,913,778.44. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC grew its stake in shares of Central Securities by 5,584.1% during the second quarter. Wolverine Asset Management LLC now owns 4,661 shares of the company’s stock worth $205,000 after buying an additional 4,579 shares during the last quarter. Raymond James Trust N.A. bought a new stake in shares of Central Securities in the second quarter worth $222,000. Evanson Asset Management LLC grew its stake in shares of Central Securities by 12.4% in the second quarter. Evanson Asset Management LLC now owns 5,576 shares of the company’s stock worth $245,000 after purchasing an additional 615 shares during the last quarter. Essex Financial Services Inc. bought a new stake in shares of Central Securities in the second quarter worth $302,000. Finally, Cetera Advisors LLC bought a new stake in shares of Central Securities in the first quarter worth $606,000. 8.68% of the stock is owned by institutional investors.

About Central Securities

Central Securities Corp. is a publicly owned investment manager. The firm invests in the public equity markets of the United States. It also invests on bonds, convertible bonds, preferred stocks, convertible preferred stocks, warrants, options real estate, or short-term obligations of governments, banks and corporations.