Central Securities (NYSEAMERICAN:CET) Reaches New 12-Month High – Here’s Why

Central Securities Corporation (NYSEAMERICAN:CET)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $54.80 and last traded at $54.6850, with a volume of 8070 shares changing hands. The stock had previously closed at $54.48.

Central Securities Trading Up 1.0%

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

Central Securities Dividend Announcement

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

Hedge Funds Weigh In On Central Securities

A number of institutional investors and hedge funds have recently made changes to their positions in CET. Blue Bell Private Wealth Management LLC grew its stake in shares of Central Securities by 8.2% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 311,489 shares of the company’s stock worth $15,796,000 after acquiring an additional 23,696 shares during the last quarter. Rockefeller Capital Management L.P. raised its position 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 worth $40,757,000 after purchasing an additional 17,776 shares during the last quarter. Brasada Capital Management LP raised its position in shares of Central Securities by 11.5% in the 4th quarter. Brasada Capital Management LP now owns 122,996 shares of the company’s stock worth $6,240,000 after purchasing an additional 12,716 shares during the last quarter. Closed End Fund Advisors Inc. bought a new position in Central Securities in the 4th quarter worth about $554,000. Finally, Formidable Asset Management LLC boosted its stake in Central Securities by 8.1% in the 1st quarter. Formidable Asset Management LLC now owns 10,990 shares of the company’s stock worth $557,000 after purchasing an additional 823 shares in the last quarter. 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. Central Securities Corp. was founded on October 1, 1929 and is based in New York City.