Central Securities (NYSEAMERICAN:CET) Sets New 1-Year High - Time to Buy?

Key Points

• Central Securities (CET) hit a new 52-week high, trading as high as $53.90 and last at $53.8140 on volume of 24,519 shares, with the stock trading above its 50-day ($51.34) and 200-day ($51.12) moving averages.
• Several institutions have recently increased or initiated positions in CET — including Pinnacle Associates, Evolve Private Wealth, Blue Bell, Bulldog Investors and Rockefeller Capital, which now owns 803,728 shares worth about $40.8 million — and institutional ownership stands at 8.68%.
• Central Securities is a publicly owned investment manager founded in 1929 that invests across U.S. public equities as well as bonds, convertibles, preferreds, warrants, options and other securities.

Central Securities Corporation (NYSEAMERICAN:CET - ) hit a new 52-week high on Friday . The stock traded as high as $53.90 and last traded at $53.8140, with a volume of 24519 shares changing hands. The stock had previously closed at $53.25.

Central Securities Stock Up 0.4%

The company has a fifty day simple moving average of $51.34 and a two-hundred day simple moving average of $51.12.

Institutional Trading of Central Securities

Several institutional investors and hedge funds have recently modified their holdings of CET. Pinnacle Associates Ltd. bought a new stake in shares of Central Securities during the 3rd quarter worth $2,562,000. Evolve Private Wealth LLC bought a new stake in shares of Central Securities during the 4th quarter worth $2,521,000. Blue Bell Private Wealth Management LLC lifted its position in shares of Central Securities by 14.8% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 287,793 shares of the company's stock worth $14,784,000 after buying an additional 37,099 shares during the last quarter. Bulldog Investors LLP lifted its position in shares of Central Securities by 4.9% during the 3rd quarter. Bulldog Investors LLP now owns 386,046 shares of the company's stock worth $19,831,000 after buying an additional 17,962 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Central Securities by 2.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 803,728 shares of the company's stock worth $40,757,000 after buying an additional 17,776 shares during the last quarter. 8.68% of the stock is currently owned by institutional investors.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.