Central Securities (NYSEAMERICAN:CET) Reaches New 52-Week High – Should You Buy?

Central Securities Corporation (NYSEAMERICAN:CET) shares hit a new 52-week high during trading on Monday . The stock traded as high as $55.68 and last traded at $55.3510, with a volume of 33686 shares. The stock had previously closed at $55.68.

Central Securities Trading Up 0.3%

The business has a 50-day moving average of $52.87 and a 200 day moving average of $52.21.

Central Securities Dividend Announcement

The company also recently declared a dividend, which was paid on Friday, June 26th. Shareholders 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 was Friday, June 12th.

Hedge Funds Weigh In On Central Securities

Institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. grew its position in Central Securities by 2.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 803,728 shares of the company’s stock valued at $40,757,000 after buying an additional 17,776 shares during the period. Bulldog Investors LLP raised its position in Central Securities by 1.4% in the first quarter. Bulldog Investors LLP now owns 396,467 shares of the company’s stock worth $19,689,000 after acquiring an additional 5,521 shares during the period. Raymond James Financial Inc. raised its position in Central Securities by 2.3% in the third quarter. Raymond James Financial Inc. now owns 312,216 shares of the company’s stock worth $16,039,000 after acquiring an additional 6,912 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in shares of Central Securities by 8.2% during the 4th 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. Finally, Brasada Capital Management LP boosted its stake in shares of Central Securities by 11.5% during the 4th quarter. Brasada Capital Management LP now owns 122,996 shares of the company’s stock worth $6,240,000 after acquiring an additional 12,716 shares during the last quarter. Institutional investors 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. Central Securities Corp. was founded on October 1, 1929 and is based in New York City.