Central Securities (NYSE:CET) Reaches New 52-Week High Following Dividend Announcement

Central Securities Co. (NYSE:CET) shares reached a new 52-week high on Wednesday after the company announced a dividend. The company traded as high as $47.90 and last traded at $47.90, with a volume of 153 shares changing hands. 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 of this dividend is Friday, November 15th. This is an increase from Central Securities’s previous semi-annual dividend of $0.20. This represents a yield of 1.3%.

Central Securities Price Performance

The business’s 50-day simple moving average is $45.93 and its two-hundred day simple moving average is $44.13.

Insider Transactions at Central Securities

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

Hedge Funds Weigh In On Central Securities

Several large investors have recently bought and sold shares of CET. Wolverine Asset Management LLC raised its position in Central Securities by 5,584.1% during the second quarter. Wolverine Asset Management LLC now owns 4,661 shares of the company’s stock valued at $205,000 after acquiring an additional 4,579 shares in the last quarter. Raymond James Trust N.A. acquired a new position in shares of Central Securities during the 2nd quarter worth about $222,000. Evanson Asset Management LLC grew its position in shares of Central Securities by 12.4% during the 2nd quarter. Evanson Asset Management LLC now owns 5,576 shares of the company’s stock worth $245,000 after buying an additional 615 shares during the period. Essex Financial Services Inc. acquired a new position in shares of Central Securities in the 2nd quarter valued at approximately $302,000. Finally, Cetera Advisors LLC acquired a new position in Central Securities during the 1st quarter worth approximately $606,000. Institutional investors and hedge funds own 8.68% of the company’s stock.

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.