Andrew J. O'Neill, Vice President of Central Securities Corp (AMEX:CET), recently reported purchasing shares of the company's common stock. On October 24, 2024, O'Neill acquired a total of 1,354 shares at a price of $46.09 per share, amounting to a total purchase value of $62,405. This transaction increased his direct and indirect ownership to 86,396 shares.
InvestingPro Insights
The recent insider purchase by Andrew J. O'Neill aligns with Central Securities Corp's (AMEX:CET) strong financial performance and consistent dividend history. According to InvestingPro data, the company has shown impressive revenue growth, with a 41.71% increase in the last twelve months as of Q2 2024. This growth is complemented by a robust gross profit margin of 100%, indicating efficient cost management.
InvestingPro Tips highlight that Central Securities Corp has maintained dividend payments for 52 consecutive years, a testament to its financial stability and commitment to shareholder returns. This long-standing dividend track record may have influenced O'Neill's decision to increase his stake in the company.
Additionally, the company's profitability over the last twelve months and high return over the last decade, as noted by InvestingPro Tips, suggest a solid financial foundation. These factors, combined with the stock's relatively low price volatility, may make it an attractive investment for those seeking steady returns.
For investors interested in a deeper analysis, InvestingPro offers 6 additional tips that could provide further insights into Central Securities Corp's investment potential.
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