Central Securities (NYSE:CET) Stock Price Down 4.7% – Time to Sell?

Central Securities Co. (NYSE:CET) shares traded down 4.7% during trading on Friday . The stock traded as low as $48.07 and last traded at $48.65. 28,282 shares traded hands during mid-day trading, an increase of 1% from the average session volume of 27,876 shares. The stock had previously closed at $51.03.

Central Securities Stock Down 4.5%

The stock has a 50 day moving average of $51.08 and a two-hundred day moving average of $48.87.

Central Securities Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 14th will be given a dividend of $2.45 per share. This represents a yield of 1,005.0%. The ex-dividend date is Friday, November 14th.

Institutional Investors Weigh In On Central Securities

Institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new position in Central Securities in the 2nd quarter valued at approximately $63,000. Bank of America Corp DE acquired a new stake in Central Securities in the second quarter valued at $64,000. Johnson Investment Counsel Inc. purchased a new position in shares of Central Securities in the second quarter valued at $201,000. Vista Investment Partners II LLC purchased a new position in shares of Central Securities in the third quarter valued at $203,000. Finally, Stolper Co acquired a new position in shares of Central Securities during the 2nd quarter worth $208,000. Hedge funds and other institutional investors 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.