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

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 Stock Down 4.8 %

The company’s fifty day simple moving average is $46.38 and its 200 day simple moving average is $44.41.

Central Securities Increases Dividend

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

Insider Activity

In other Central Securities news, CEO John C. Hill bought 600 shares of Central Securities stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $46.71 per share, with a total value of $28,026.00. Following the completion of the acquisition, the chief executive officer now 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Andrew J. O’neill purchased 1,080 shares of Central Securities stock in a transaction on Thursday, October 24th. The stock was bought at an average price of $46.09 per share, with a total value of $49,777.20. Following the transaction, the vice president now owns 84,916 shares of the company’s stock, valued at approximately $3,913,778.44. This represents a 1.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CET. Pathstone Holdings LLC grew its holdings in Central Securities by 259.7% during the 3rd quarter. Pathstone Holdings LLC now owns 140,198 shares of the company’s stock valued at $6,430,000 after buying an additional 101,226 shares in the last quarter. Shaker Financial Services LLC raised its position in 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 purchasing an additional 75,646 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Central Securities during the third quarter valued at $54,760,000. Raymond James & Associates lifted its stake in Central Securities by 1.0% in the third 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 grew its holdings in Central Securities by 2.0% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 95,565 shares of the company’s stock worth $4,207,000 after acquiring an additional 1,911 shares in the last quarter. 8.68% of the stock is owned by hedge funds and other institutional investors.

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.