Central Securities (NYSEAMERICAN:CET) Reaches New 1-Year High - Still a Buy?

Key Points

• Central Securities (CET) reached a new 52-week high intraday of $53.40 and last traded at $52.63 on a volume of 19,149 shares.
• Its 50-day and 200-day moving averages are approximately $51.15 and $51.04, respectively, so the stock is trading above both short- and long-term averages.
• Institutional activity included Rockefeller Capital Management raising its stake to 803,728 shares (about $40.8M) and several other managers adding or initiating positions, with total institutional ownership at 8.68%.

Central Securities Corporation (NYSEAMERICAN:CET - )'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $53.40 and last traded at $52.63, with a volume of 19149 shares changing hands. The stock had previously closed at $52.75.

Central Securities Price Performance

The firm has a fifty day moving average of $51.15 and a 200 day moving average of $51.04.

Institutional Investors Weigh In On Central Securities

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. increased its holdings in shares of Central Securities by 2.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 803,728 shares of the company's stock valued at $40,757,000 after purchasing an additional 17,776 shares during the last quarter. Evolve Private Wealth LLC acquired a new stake in shares of Central Securities in the fourth quarter valued at approximately $2,521,000. First Manhattan CO. LLC. increased its holdings in shares of Central Securities by 4.8% in the fourth quarter. First Manhattan CO. LLC. now owns 15,799 shares of the company's stock valued at $801,000 after purchasing an additional 728 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Central Securities by 1.7% in the fourth quarter. Cetera Investment Advisers now owns 44,764 shares of the company's stock valued at $2,270,000 after purchasing an additional 762 shares during the last quarter. Finally, Nitor Capital Management LLC acquired a new stake in shares of Central Securities in the fourth quarter valued at approximately $316,000. Institutional investors and hedge funds own 8.68% of the company's stock.

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

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