Central Securities (NYSEAMERICAN:CET) Reaches New 52-Week High – What’s Next?

Central Securities Corporation (NYSEAMERICAN:CET) shares hit a new 52-week high on Wednesday. The stock 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 Down 0.1%

The firm has a 50 day moving average price of $55.90 and a 200-day moving average price of $53.37.

Central Securities Dividend Announcement

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

Insider Activity

In other news, CEO John C. Hill acquired 500 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was acquired at an average cost of $56.37 per share, with a total value of $28,185.00. Following the transaction, the chief executive officer owned 78,101 shares in the company, valued at approximately $4,402,553.37. This trade represents a 0.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Central Securities

Several institutional investors have recently added to or reduced their stakes in the business. Atlas Wealth LLC lifted its position 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 buying an additional 14,900 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its position in shares of Central Securities by 12.0% during the third quarter. Blue Bell Private Wealth Management LLC now owns 431,278 shares of the company’s stock worth $23,940,000 after acquiring an additional 46,223 shares during the last quarter. Bulldog Investors LLP increased its holdings in shares of Central Securities by 1.4% in the 1st quarter. Bulldog Investors LLP now owns 396,467 shares of the company’s stock valued at $19,689,000 after acquiring an additional 5,521 shares during the period. Brasada Capital Management LP acquired a new position in shares of Central Securities in the 2nd quarter valued at $6,137,000. Finally, Advisors Asset Management Inc. acquired a new position in shares of Central Securities in the 3rd quarter valued at $4,959,000. Hedge funds and other institutional investors own 8.68% of the company’s stock.

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.