Central Securities (NYSE:CET) Sees Strong Trading Volume – Still a Buy?

Shares of Central Securities Co. (NYSE:CET) saw unusually-high trading volume on Monday . Approximately 28,315 shares changed hands 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 Trading Up 0.2 %

The company has a 50-day moving average price of $46.43 and a 200-day moving average price of $44.50.

Central Securities Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 15th will be paid a $2.05 dividend. This represents a yield of 1.3%. 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.

Insiders Place Their Bets

In other news, VP Andrew J. O’neill bought 1,080 shares of the stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $46.09 per share, for a total transaction of $49,777.20. Following the acquisition, the vice president now owns 84,916 shares in the company, valued at approximately $3,913,778.44. This trade represents a 1.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John C. Hill acquired 600 shares of Central Securities stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $46.71 per share, with a total value of $28,026.00. Following the completion of the transaction, the chief executive officer now directly owns 69,296 shares of the company’s stock, valued at $3,236,816.16. This trade represents a 0.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 10.30% of the company’s stock.

Institutional Investors Weigh In On Central Securities

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Smithfield Trust Co bought a new position in shares of Central Securities during the 3rd quarter worth approximately $203,000. Wolverine Asset Management LLC increased its stake in Central Securities by 5,584.1% in the 2nd quarter. Wolverine Asset Management LLC now owns 4,661 shares of the company’s stock valued at $205,000 after buying an additional 4,579 shares during the last quarter. Raymond James Trust N.A. bought a new stake in Central Securities during the 2nd quarter worth about $222,000. Evanson Asset Management LLC boosted its stake 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 last quarter. Finally, Essex Financial Services Inc. bought a new position in shares of Central Securities in the 2nd quarter valued at about $302,000. Institutional investors and hedge funds own 8.68% of the company’s stock.

Central Securities Company Profile

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.