Central Securities (NYSE:CET) Sees Strong Trading Volume - Here's Why

Central Securities Co. (NYSE:CET - Get Free Report) saw strong trading volume on Monday . 28,315 shares were traded during trading, a decline of 9% from the previous session's volume of 31,008 shares.The stock last traded at $46.55 and had previously closed at $46.40.

Central Securities Trading Down 0.3 %

The firm's 50 day moving average is $46.47 and its two-hundred day moving average is $44.54.

Central Securities Increases Dividend

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

Insider Buying and Selling at Central Securities

In related news, CEO John C. Hill bought 600 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $46.71 per share, with a total value of $28,026.00. Following the transaction, the chief executive officer now directly owns 69,296 shares of the company's stock, valued at approximately $3,236,816.16. This represents a 0.87 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Andrew J. O'neill bought 1,080 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average cost of $46.09 per share, for a total transaction of $49,777.20. Following the completion of the transaction, the vice president now directly owns 84,916 shares in the company, valued at approximately $3,913,778.44. The trade was a 1.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 10.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Cetera Advisors LLC purchased a new position in shares of Central Securities in the 1st quarter valued at $606,000. International Assets Investment Management LLC purchased a new position in shares of Central Securities in the 3rd quarter valued at $54,760,000. Shaker Financial Services LLC grew its position in shares of Central Securities by 118.7% in the 3rd quarter. Shaker Financial Services LLC now owns 139,353 shares of the company's stock valued at $6,388,000 after buying an additional 75,646 shares during the last quarter. Wolverine Asset Management LLC grew its position in shares of Central Securities by 421.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 24,296 shares of the company's stock valued at $1,114,000 after buying an additional 19,635 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in Central Securities by 3.2% during the 2nd quarter. Cetera Investment Advisers now owns 37,700 shares of the company's stock worth $1,660,000 after purchasing an additional 1,161 shares during the period. 8.68% of the stock is owned by hedge funds and other institutional investors.

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.