Central Securities (NYSEAMERICAN:CET) Hits New 52-Week High – Here’s Why

Central Securities Corporation (NYSEAMERICAN:CET)’s share price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $57.49 and last traded at $57.2590, with a volume of 4,391 shares. The stock had previously closed at $56.73.

Central Securities Stock Up 0.5%

The stock has a 50 day simple moving average of $55.80 and a two-hundred day simple moving average of $53.33.

Central Securities Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, December 18th. Investors of record on Monday, November 16th will be paid a dividend of $3.00 per share. The ex-dividend date is Monday, November 16th. This represents a yield of 1,058.0%.

Insider Activity

In related news, CEO John C. Hill purchased 500 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was acquired at an average price of $56.37 per share, for a total transaction of $28,185.00. Following the completion of the purchase, the chief executive officer directly owned 78,101 shares of the company’s stock, valued at $4,402,553.37. This trade represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Central Securities

Institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC purchased a new stake in shares of Central Securities in the 3rd quarter worth about $412,000. Atlas Wealth LLC lifted its stake in shares of Central Securities by 2.4% during the 3rd quarter. Atlas Wealth LLC now owns 630,462 shares of the company’s stock worth $34,997,000 after purchasing an additional 14,900 shares during the period. King Luther Capital Management Corp purchased a new position in Central Securities during the third quarter worth about $211,000. Formidable Asset Management LLC increased its position in Central Securities by 6.2% during the third quarter. Formidable Asset Management LLC now owns 11,232 shares of the company’s stock worth $589,000 after purchasing an additional 654 shares during the last quarter. Finally, Principle Wealth Partners LLC purchased a new position in shares of Central Securities in the 3rd quarter worth $419,000. 8.68% of the stock is currently owned by hedge funds and other institutional investors.

About Central Securities

Central Securities Corporation is a diversified closed-end investment company that has been publicly traded since 1929. Rather than operating a commercial business, it pools shareholder capital to invest in a portfolio of securities. The company’s investment objective is long-term growth of capital. Its portfolio consists primarily of equity securities, including shares of companies across a range of industries. Central Securities is based in the United States and invests in publicly traded companies.