Douglass Winthrop Advisors LLC Makes New Investment in Central Securities Co. (NYSE:CET)

Douglass Winthrop Advisors LLC purchased a new stake in Central Securities Co. (NYSE:CET) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 54,310 shares of the company’s stock, valued at approximately $2,490,000.

A number of other institutional investors also recently modified their holdings of the business. Smithfield Trust Co bought a new position in Central Securities in the third quarter valued at about $203,000. Wolverine Asset Management LLC grew its holdings in shares of Central Securities by 5,584.1% during the 2nd quarter. Wolverine Asset Management LLC now owns 4,661 shares of the company’s stock valued at $205,000 after purchasing an additional 4,579 shares during the last quarter. Raymond James Trust N.A. acquired a new position in Central Securities during the 2nd quarter worth approximately $222,000. Evanson Asset Management LLC lifted its stake in Central Securities by 12.4% in the 2nd quarter. Evanson Asset Management LLC now owns 5,576 shares of the company’s stock valued at $245,000 after purchasing an additional 615 shares during the last quarter. Finally, Essex Financial Services Inc. acquired a new stake in Central Securities in the second quarter valued at approximately $302,000. Institutional investors and hedge funds own 8.68% of the company’s stock.

Insider Buying and Selling at Central Securities

In other Central Securities news, CEO John C. Hill bought 600 shares of Central Securities stock in a transaction 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 acquisition, the chief executive officer now directly owns 69,296 shares of the company’s stock, valued at $3,236,816.16. The trade was a 0.87 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew J. O’neill purchased 1,080 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average cost of $46.09 per share, with a total value of $49,777.20. Following the purchase, the vice president now directly owns 84,916 shares of the company’s stock, valued at approximately $3,913,778.44. The trade was a 1.29 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 10.30% of the company’s stock.

Central Securities Trading Down 0.3 %

Shares of NYSE:CET opened at $46.52 on Monday. Central Securities Co. has a 52-week low of $36.32 and a 52-week high of $49.51. The company has a fifty day moving average of $46.61 and a 200-day moving average of $44.68.

Central Securities Increases Dividend

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

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.