Wolverine Asset Management LLC Acquires 57,358 Shares of Central Securities Co. (NYSE:CET)

Key Points

• Wolverine Asset Management LLC increased its holdings in Central Securities Co. by 254.7%, owning 79,881 shares worth approximately $3.59 million as of the latest filing with the SEC.
• Central Securities recently declared a quarterly dividend of $0.25 per share, yielding 2.1% annually.
• The stock of Central Securities opened at $48.69, with a 52-week range from $40.24 to $49.51.

Wolverine Asset Management LLC boosted its position in shares of Central Securities Co. (NYSE:CET - Free Report) by 254.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,881 shares of the company's stock after buying an additional 57,358 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.28% of Central Securities worth $3,591,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Shaker Financial Services LLC grew its position in shares of Central Securities by 7.9% in the 1st quarter. Shaker Financial Services LLC now owns 180,813 shares of the company's stock worth $8,129,000 after buying an additional 13,172 shares during the period. Cetera Investment Advisers lifted its stake in Central Securities by 1.4% during the 1st quarter. Cetera Investment Advisers now owns 42,258 shares of the company's stock valued at $1,900,000 after acquiring an additional 576 shares during the period. Blue Bell Private Wealth Management LLC lifted its stake in Central Securities by 8.0% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 207,993 shares of the company's stock valued at $9,351,000 after acquiring an additional 15,352 shares during the period. Joel Isaacson & Co. LLC bought a new position in Central Securities during the 1st quarter valued at about $678,000. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Central Securities by 1.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,294 shares of the company's stock valued at $733,000 after acquiring an additional 300 shares during the period. 8.68% of the stock is currently owned by institutional investors.

Central Securities Price Performance

CET traded up $0.83 during midday trading on Tuesday, hitting $49.58. 14,982 shares of the company traded hands, compared to its average volume of 25,105. The company's 50-day moving average is $47.89 and its 200 day moving average is $46.32. Central Securities Co. has a 52 week low of $40.24 and a 52 week high of $49.58.

Central Securities Dividend Announcement

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

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.