Central Securities (NYSE:CET) Reaches New 12-Month High - Still a Buy?

Key Points

• Central Securities Co. (NYSE:CET) achieved a new 52-week high of $50.60, with the stock last trading at $50.08 and a volume of 5,232 shares.
• Institutional investors have been active, with Bank of America and several others increasing their stakes in Central Securities during the second quarter.
• The stock has a 50-day moving average of $48.73 and a 200-day moving average of $46.57, indicating a positive price trend.

Central Securities Co. (NYSE:CET - )'s stock price reached a new 52-week high on Wednesday . The company traded as high as $50.60 and last traded at $50.08, with a volume of 5232 shares trading hands. The stock had previously closed at $49.98.

Central Securities Price Performance

The stock has a 50-day moving average of $48.73 and a two-hundred day moving average of $46.57.

Institutional Investors Weigh In On Central Securities

Several hedge funds have recently bought and sold shares of the business. Bank of America Corp DE purchased a new stake in Central Securities in the 2nd quarter worth about $64,000. Raymond James Financial Inc. raised its stake in shares of Central Securities by 1.8% during the 2nd quarter. Raymond James Financial Inc. now owns 305,304 shares of the company's stock worth $14,612,000 after purchasing an additional 5,511 shares in the last quarter. Shaker Financial Services LLC raised its stake in shares of Central Securities by 17.1% during the 2nd quarter. Shaker Financial Services LLC now owns 211,722 shares of the company's stock worth $10,133,000 after purchasing an additional 30,909 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Central Securities by 104.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,957 shares of the company's stock worth $524,000 after purchasing an additional 5,585 shares in the last quarter. Finally, Johnson Investment Counsel Inc. purchased a new stake in shares of Central Securities during the 2nd quarter worth about $201,000. 8.68% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.