Central Securities Corp (NYSE:CET) Vice President Andrew J. O'Neill has recently made a significant purchase of the company's stock, according to a new SEC filing. O'Neill acquired 800 shares of Central Securities Corp at a price of $40.13 per share, totaling an investment of $32,104.
This transaction, which took place on April 19, 2024, has increased O'Neill's direct holdings in the company to 83,639 shares. Additionally, it's noted that an indirect holding of 1,200 shares is owned by O'Neill's child.
Investors often keep a close eye on insider transactions such as these, as they can provide insights into how company executives perceive the value of their organization's stock. The recent purchase by O'Neill might be interpreted as a sign of confidence in the future prospects of Central Securities Corp.
The company, which has a storied history and has undergone several name changes since its inception, is currently headquartered in New York. The transaction details and O'Neill's updated share ownership were officially confirmed in the filing dated April 22, 2024.
For investors tracking insider activity, such filings can serve as a valuable piece of the puzzle when evaluating a company's stock for their portfolio.
InvestingPro Insights
Following the news of Vice President Andrew J. O'Neill's recent stock purchase, investors may be seeking a deeper understanding of Central Securities Corp's financial health and performance. According to InvestingPro data, Central Securities Corp reported a Gross Profit Margin of 100% for the last twelve months as of Q4 2023. This impressive margin reflects the company's ability to retain a significant portion of revenue after accounting for the cost of goods sold.
One notable InvestingPro Tip for Central Securities Corp is the substantial dividend yield of 8.23%, as of the recent data. This figure suggests that the company prioritizes returning value to its shareholders through dividends, which can be particularly appealing to income-focused investors. Additionally, the company has a history of consistent dividend payments, having maintained them for 51 consecutive years, which may further solidify investor confidence in its financial stability and commitment to shareholders.
Investors considering Central Securities Corp for their portfolios might also take interest in the company's stock price stability. As per another InvestingPro Tip, the stock generally trades with low price volatility, which could be a reassuring factor for those looking to invest in a less turbulent market environment.
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