Central Securities (NYSE:CET) Sets New 52-Week High - Here's Why

Key Points

• Central Securities Co. shares reached a new 52-week high of $49.58 during trading, marking a significant rise from the previous close of $48.75.
• The company announced a quarterly dividend of $0.25 per share, resulting in a dividend yield of 2.0%.
• Several institutional investors increased their stakes in Central Securities during the 4th quarter, with Wells Fargo & Company MN boosting its holdings by 50.1%.

Central Securities Co. (NYSE:CET - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $49.58 and last traded at $49.45, with a volume of 14720 shares. The stock had previously closed at $48.75.

Central Securities Price Performance

The business's 50-day moving average price is $48.11 and its two-hundred day moving average price is $46.39.

Central Securities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, June 17th.

Institutional Trading of Central Securities

Several institutional investors and hedge funds have recently modified their holdings of CET. LPL Financial LLC lifted its stake in shares of Central Securities by 11.3% in the 4th quarter. LPL Financial LLC now owns 9,968 shares of the company's stock valued at $455,000 after acquiring an additional 1,008 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Central Securities by 50.1% in the 4th quarter. Wells Fargo & Company MN now owns 12,761 shares of the company's stock worth $583,000 after purchasing an additional 4,259 shares in the last quarter. First Trust Advisors LP increased its holdings in Central Securities by 1.6% in the 4th quarter. First Trust Advisors LP now owns 45,727 shares of the company's stock worth $2,089,000 after purchasing an additional 722 shares in the last quarter. Shaker Financial Services LLC raised its position in Central Securities by 20.3% in the fourth quarter. Shaker Financial Services LLC now owns 167,641 shares of the company's stock valued at $7,659,000 after purchasing an additional 28,288 shares during the last quarter. Finally, Almitas Capital LLC acquired a new stake in shares of Central Securities during the fourth quarter valued at about $705,000. 8.68% of the stock is currently owned by 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.