Central Securities (NYSEAMERICAN:CET) Sets New 52-Week High - What's Next?

Key Points

• Central Securities (CET) hit a new 52-week high of $54.10 on Thursday, last trading at $54.07 on volume of 56,868 shares and rising about 0.9% from a $53.58 close.
• The stock is trading above its technical levels, with a 50-day moving average of $51.41 and a 200-day moving average of $51.16, indicating a recent breakout above both averages.
• Several institutional investors increased or initiated positions (Rockefeller Capital, Formidable, Cetera, and Evolve among them), though institutions collectively own only about 8.68% of the company.

Central Securities Corporation (NYSEAMERICAN:CET - ) hit a new 52-week high on Thursday . The stock traded as high as $54.10 and last traded at $54.07, with a volume of 56868 shares changing hands. The stock had previously closed at $53.58.

Central Securities Trading Up 0.9%

The business has a 50-day moving average price of $51.41 and a two-hundred day moving average price of $51.16.

Institutional Investors Weigh In On Central Securities

A number of large investors have recently bought and sold shares of CET. Formidable Asset Management LLC increased its holdings in Central Securities by 8.1% in the 1st quarter. Formidable Asset Management LLC now owns 10,990 shares of the company's stock valued at $557,000 after buying an additional 823 shares during the period. Rockefeller Capital Management L.P. lifted its holdings 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 acquiring an additional 17,776 shares during the period. Evolve Private Wealth LLC acquired a new stake in shares of Central Securities during the 4th quarter worth approximately $2,521,000. First Manhattan CO. LLC. boosted its position in shares of Central Securities by 4.8% during the 4th quarter. First Manhattan CO. LLC. now owns 15,799 shares of the company's stock worth $801,000 after acquiring an additional 728 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in 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 acquiring an additional 762 shares during the last quarter. 8.68% of the stock is currently owned by institutional investors and hedge funds.

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.

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