Insider Buying: Central Securities Co. (NYSE:CET) CEO Acquires 700 Shares of Stock

Central Securities Co. (NYSE:CET - Get Free Report) CEO John C. Hill acquired 700 shares of the business's stock in a transaction dated Monday, January 6th. The stock was purchased at an average cost of $45.87 per share, for a total transaction of $32,109.00. Following the transaction, the chief executive officer now owns 72,992 shares in the company, valued at approximately $3,348,143.04. The trade was a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Central Securities Stock Performance

Shares of CET traded down $0.07 during midday trading on Wednesday, hitting $45.53. 12,020 shares of the company's stock traded hands, compared to its average volume of 32,104. Central Securities Co. has a 1 year low of $36.89 and a 1 year high of $49.51. The firm's fifty day moving average is $46.75 and its 200-day moving average is $45.44.

Central Securities Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 15th were issued a $2.05 dividend. This represents a yield of 1.3%. The ex-dividend date was Friday, November 15th. This is an increase from Central Securities's previous semi-annual dividend of $0.20.

Hedge Funds Weigh In On Central Securities

Hedge funds have recently modified their holdings of the stock. Smithfield Trust Co purchased a new position in shares of Central Securities in the third quarter worth about $203,000. Landscape Capital Management L.L.C. raised its position in Central Securities by 15.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 9,038 shares of the company's stock worth $414,000 after buying an additional 1,220 shares during the last quarter. Neville Rodie & Shaw Inc. lifted its stake in Central Securities by 54.5% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 17,000 shares of the company's stock valued at $777,000 after acquiring an additional 6,000 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in Central Securities by 18.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,963 shares of the company's stock valued at $791,000 after acquiring an additional 2,860 shares during the period. Finally, Stifel Financial Corp boosted its holdings in shares of Central Securities by 4.1% in the 3rd quarter. Stifel Financial Corp now owns 22,280 shares of the company's stock valued at $1,021,000 after acquiring an additional 880 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.