Central Securities (NYSEAMERICAN:CET) Hits New 1-Year High – Still a Buy?

Central Securities Corporation (NYSEAMERICAN:CET) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $54.80 and last traded at $54.6850, with a volume of 8070 shares traded. The stock had previously closed at $54.48.

Central Securities Stock Up 1.0%

The firm’s fifty day moving average price is $52.70 and its 200-day moving average price is $52.11.

Central Securities Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.31 per share. This represents a dividend yield of 117.0%. The ex-dividend date of this dividend was Friday, June 12th.

Institutional Trading of Central Securities

Several large investors have recently modified their holdings of the business. Evolve Private Wealth LLC purchased a new position in shares of Central Securities during the 4th quarter worth approximately $2,521,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of Central Securities by 8.2% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 311,489 shares of the company’s stock valued at $15,796,000 after purchasing an additional 23,696 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Central Securities by 2.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 803,728 shares of the company’s stock valued at $40,757,000 after purchasing an additional 17,776 shares during the period. Brasada Capital Management LP boosted its position in shares of Central Securities by 11.5% during the fourth quarter. Brasada Capital Management LP now owns 122,996 shares of the company’s stock valued at $6,240,000 after purchasing an additional 12,716 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of Central Securities by 65.7% during the fourth quarter. LPL Financial LLC now owns 30,927 shares of the company’s stock valued at $1,568,000 after purchasing an additional 12,258 shares in the last quarter. 8.68% of the stock is owned by 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. Central Securities Corp. was founded on October 1, 1929 and is based in New York City.