Central Securities (NYSE:CET) Shares Gap Down – Should You Sell?

Shares of Central Securities Co. (NYSE:CET) gapped down prior to trading on Friday . The stock had previously closed at $49.10, but opened at $47.02. Central Securities shares last traded at $47.02, with a volume of 2,476 shares.

Central Securities Trading Down 1.3 %

The business’s fifty day simple moving average is $46.43 and its 200-day simple moving average is $44.47.

Central Securities Increases Dividend

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

Insider Buying and Selling at Central Securities

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

Hedge Funds Weigh In On Central Securities

Institutional investors have recently bought and sold shares of the business. Smithfield Trust Co purchased a new stake in Central Securities during the third quarter valued at approximately $203,000. Wolverine Asset Management LLC lifted its position in Central Securities by 5,584.1% in the second quarter. Wolverine Asset Management LLC now owns 4,661 shares of the company’s stock worth $205,000 after buying an additional 4,579 shares during the last quarter. Raymond James Trust N.A. purchased a new position in Central Securities during the second quarter worth $222,000. Evanson Asset Management LLC increased its position in Central Securities by 12.4% during the second quarter. Evanson Asset Management LLC now owns 5,576 shares of the company’s stock valued at $245,000 after acquiring an additional 615 shares during the last quarter. Finally, Essex Financial Services Inc. bought a new position in Central Securities during the second quarter valued at $302,000. 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.