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

Central Securities Co. (NYSE:CET) saw unusually-strong trading volume on Monday . Approximately 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 Price Performance

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

Central Securities Increases Dividend

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

Insider Buying and Selling

In other news, VP Andrew J. O’neill bought 1,080 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average price of $46.09 per share, with a total value of $49,777.20. Following the completion of the acquisition, the vice president now directly owns 84,916 shares of the company’s stock, valued at $3,913,778.44. This trade represents a 1.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John C. Hill purchased 600 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $46.71 per share, for a total transaction of $28,026.00. Following the acquisition, the chief executive officer now owns 69,296 shares in the company, valued at $3,236,816.16. This trade represents a 0.87 % increase in their position. The disclosure for this purchase can be found here. 10.30% of the stock is owned by company insiders.

Institutional Trading of Central Securities

Several large investors have recently made changes to their positions in CET. Evanson Asset Management LLC increased its holdings 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 buying an additional 615 shares in the last quarter. Stifel Financial Corp raised its position in shares of Central Securities by 4.1% during the 3rd quarter. Stifel Financial Corp now owns 22,280 shares of the company’s stock worth $1,021,000 after purchasing an additional 880 shares during the last quarter. Raymond James & Associates lifted its stake in Central Securities by 1.0% in the 3rd quarter. Raymond James & Associates now owns 99,620 shares of the company’s stock valued at $4,567,000 after buying an additional 962 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Central Securities by 3.2% in the 2nd quarter. Cetera Investment Advisers now owns 37,700 shares of the company’s stock worth $1,660,000 after buying an additional 1,161 shares during the last quarter. Finally, FFT Wealth Management LLC increased its stake in Central Securities by 5.9% during the 2nd quarter. FFT Wealth Management LLC now owns 21,596 shares of the company’s stock worth $951,000 after buying an additional 1,194 shares in the last quarter. 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.