Pathstone Holdings LLC Increases Position in Central Securities Co. (NYSE:CET)

Pathstone Holdings LLC lifted its holdings in Central Securities Co. (NYSE:CET) by 259.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 140,198 shares of the company’s stock after purchasing an additional 101,226 shares during the period. Pathstone Holdings LLC’s holdings in Central Securities were worth $6,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CET. Wolverine Asset Management LLC grew its position in Central Securities by 5,584.1% in the 2nd quarter. Wolverine Asset Management LLC now owns 4,661 shares of the company’s stock valued at $205,000 after acquiring an additional 4,579 shares during the last quarter. Raymond James Trust N.A. bought a new position in shares of Central Securities in the second quarter worth about $222,000. Evanson Asset Management LLC lifted its holdings in Central Securities by 12.4% during the 2nd quarter. Evanson Asset Management LLC now owns 5,576 shares of the company’s stock valued at $245,000 after buying an additional 615 shares in the last quarter. Essex Financial Services Inc. purchased a new stake in Central Securities in the 2nd quarter valued at about $302,000. Finally, Cetera Advisors LLC bought a new position in Central Securities in the 1st quarter worth about $606,000. 8.68% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO John C. Hill bought 600 shares of the stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $46.71 per share, for a total transaction of $28,026.00. Following the completion of the acquisition, the chief executive officer now directly owns 69,296 shares in the company, valued at approximately $3,236,816.16. This represents a 0.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew J. O’neill bought 1,080 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $46.09 per share, for a total transaction of $49,777.20. Following the transaction, the vice president now directly owns 84,916 shares in the company, valued at approximately $3,913,778.44. This represents a 1.29 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 10.30% of the company’s stock.

Central Securities Stock Down 0.3 %

Central Securities stock opened at $46.52 on Friday. The company has a 50 day moving average price of $46.61 and a 200-day moving average price of $44.64. Central Securities Co. has a fifty-two week low of $36.32 and a fifty-two week high of $49.51.

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 given a dividend of $2.05 per share. The ex-dividend date is Friday, November 15th. This is a positive change from Central Securities’s previous semi-annual dividend of $0.20. This represents a yield of 1.3%.

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.