Central Securities (NYSE:CET) Sees Strong Trading Volume – Should You Buy?

Central Securities Co. (NYSE:CET) saw unusually-high trading volume on Monday . 28,315 shares were traded during trading, a decline of 9% from the previous session’s volume of 31,008 shares.The stock last traded at $46.55 and had previously closed at $46.40.

Central Securities Stock Up 0.2 %

The company has a 50 day simple moving average of $46.51 and a two-hundred day simple moving average of $44.57.

Central Securities Increases Dividend

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

Insider Activity

In related news, CEO John C. Hill purchased 600 shares of the stock in a transaction that occurred on 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 directly owns 69,296 shares in the company, valued at $3,236,816.16. This represents a 0.87 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Andrew J. O’neill bought 1,080 shares of Central Securities stock in a transaction on Thursday, October 24th. The stock was acquired 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 of the company’s stock, valued at approximately $3,913,778.44. This trade represents a 1.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 10.30% of the company’s stock.

Institutional Trading of Central Securities

A number of hedge funds have recently added to or reduced their stakes in the business. Smithfield Trust Co bought a new position in Central Securities in the third quarter worth approximately $203,000. Wolverine Asset Management LLC lifted its stake in shares of Central Securities by 5,584.1% during the 2nd quarter. Wolverine Asset Management LLC now owns 4,661 shares of the company’s stock worth $205,000 after purchasing an additional 4,579 shares during the last quarter. Raymond James Trust N.A. bought a new stake in Central Securities during the second quarter valued at about $222,000. Evanson Asset Management LLC grew its stake in Central Securities by 12.4% in the second quarter. Evanson Asset Management LLC now owns 5,576 shares of the company’s stock valued at $245,000 after purchasing an additional 615 shares during the last quarter. Finally, Essex Financial Services Inc. purchased a new stake in shares of Central Securities during the second quarter valued at about $302,000. 8.68% of the stock is owned by hedge funds and other 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.