Central Securities (NYSE:CET) Sees Large Volume Increase – Should You Buy?

Central Securities Co. (NYSE:CET) saw unusually-high trading volume on Monday . Approximately 19,581 shares were traded during mid-day trading, a decline of 33% from the previous session’s volume of 29,140 shares.The stock last traded at $48.8840 and had previously closed at $48.48.

Central Securities Stock Up 0.5%

The stock’s 50 day simple moving average is $50.84 and its two-hundred day simple moving average is $49.09.

Central Securities Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 14th will be issued a dividend of $2.45 per share. The ex-dividend date is Friday, November 14th. This represents a dividend yield of 1,003.0%.

Institutional Investors Weigh In On Central Securities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CET. Williams Jones Wealth Management LLC. acquired a new position in shares of Central Securities in the 3rd quarter valued at $214,000. Bulldog Investors LLP raised its holdings in Central Securities by 4.9% in the 3rd quarter. Bulldog Investors LLP now owns 386,046 shares of the company’s stock valued at $19,831,000 after buying an additional 17,962 shares during the period. Chilton Investment Co. Inc. lifted its position in Central Securities by 1.0% in the third quarter. Chilton Investment Co. Inc. now owns 102,254 shares of the company’s stock valued at $5,253,000 after buying an additional 1,000 shares during the last quarter. Raymond James Financial Inc. boosted its stake in Central Securities by 2.3% during the third quarter. Raymond James Financial Inc. now owns 312,216 shares of the company’s stock worth $16,039,000 after buying an additional 6,912 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in shares of Central Securities by 5.9% during the third quarter. Brown Brothers Harriman & Co. now owns 18,353 shares of the company’s stock valued at $943,000 after acquiring an additional 1,020 shares during the last quarter. Institutional investors and hedge funds own 8.68% of the company’s stock.

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.