Central Securities (NYSE:CET) Shares Gap Down – Here’s Why

Central Securities Co. (NYSE:CET)’s stock price gapped down before the market opened 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 changing hands.

Central Securities Trading Down 1.3 %

The firm has a 50-day moving average of $46.43 and a 200 day moving average of $44.47.

Central Securities Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be issued a dividend of $2.05 per share. This represents a dividend 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.

Insider Transactions at Central Securities

In other news, VP Andrew J. O’neill acquired 1,080 shares of Central Securities stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average price of $46.09 per share, for a total transaction of $49,777.20. Following the completion of the transaction, the vice president now owns 84,916 shares in the company, valued at $3,913,778.44. The trade was a 1.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John C. Hill bought 600 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $46.71 per share, for a total transaction 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 approximately $3,236,816.16. The trade was a 0.87 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 10.30% of the company’s stock.

Institutional Trading of Central Securities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pathstone Holdings LLC increased its position in Central Securities by 259.7% in the third quarter. Pathstone Holdings LLC now owns 140,198 shares of the company’s stock worth $6,430,000 after buying an additional 101,226 shares in the last quarter. Shaker Financial Services LLC grew its stake in shares of Central Securities by 118.7% during the 3rd quarter. Shaker Financial Services LLC now owns 139,353 shares of the company’s stock valued at $6,388,000 after acquiring an additional 75,646 shares during the period. International Assets Investment Management LLC purchased a new stake in Central Securities in the 3rd quarter worth approximately $54,760,000. Raymond James & Associates raised its stake in Central Securities by 1.0% during the 3rd quarter. Raymond James & Associates now owns 99,620 shares of the company’s stock worth $4,567,000 after acquiring an additional 962 shares during the period. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in Central Securities by 2.0% during the second quarter. Blue Bell Private Wealth Management LLC now owns 95,565 shares of the company’s stock valued at $4,207,000 after purchasing an additional 1,911 shares in the last quarter. 8.68% of the stock is owned by hedge funds and other institutional investors.

About Central Securities

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.