Central Securities (NYSEAMERICAN:CET) Hits New 52-Week High – What’s Next?

Shares of Central Securities Corporation (NYSEAMERICAN:CET) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $54.65 and last traded at $53.2050, with a volume of 2447 shares trading hands. The stock had previously closed at $52.50.

Central Securities Stock Up 0.5%

The stock’s fifty day simple moving average is $52.59 and its 200 day simple moving average is $51.64.

Central Securities Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a dividend of $0.31 per share. This represents a yield of 117.0%. The ex-dividend date is Friday, June 12th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CET. Williams Jones Wealth Management LLC. increased its holdings in shares of Central Securities by 4.9% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,376 shares of the company’s stock valued at $222,000 after purchasing an additional 204 shares during the period. UBS Group AG grew its holdings in Central Securities by 0.4% during the third quarter. UBS Group AG now owns 58,725 shares of the company’s stock worth $3,017,000 after acquiring an additional 246 shares during the period. Park Avenue Securities LLC grew its holdings in Central Securities by 4.9% during the fourth quarter. Park Avenue Securities LLC now owns 6,203 shares of the company’s stock worth $315,000 after acquiring an additional 289 shares during the period. Accel Wealth Management grew its holdings in Central Securities by 4.1% during the fourth quarter. Accel Wealth Management now owns 8,704 shares of the company’s stock worth $441,000 after acquiring an additional 341 shares during the period. Finally, King Luther Capital Management Corp grew its holdings in Central Securities by 4.9% during the fourth quarter. King Luther Capital Management Corp now owns 9,688 shares of the company’s stock worth $491,000 after acquiring an additional 452 shares during the period. Institutional investors and hedge funds own 8.68% of the company’s stock.

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. Central Securities Corp. was founded on October 1, 1929 and is based in New York City.