Central Securities (NYSE:CET) Reaches New 52-Week High - Should You Buy?

Key Points

• Central Securities Co. (NYSE:CET) reached a new 52-week high of $52.08 during trading, closing at $51.56.
• Several institutional investors have increased their stakes in the company, with notable increases from Wolverine Asset Management, which raised its holdings by 254.7%.
• As of now, only 8.68% of Central Securities stock is owned by institutional investors, indicating potential for further investment interest.

Shares of Central Securities Co. (NYSE:CET - ) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $52.08 and last traded at $51.56, with a volume of 5836 shares. The stock had previously closed at $51.61.

Central Securities Stock Performance

The company's 50 day moving average price is $49.72 and its 200-day moving average price is $47.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CET. Wolverine Asset Management LLC boosted its holdings in Central Securities by 254.7% in the 1st quarter. Wolverine Asset Management LLC now owns 79,881 shares of the company's stock worth $3,591,000 after buying an additional 57,358 shares during the period. Shaker Financial Services LLC boosted its holdings in Central Securities by 17.1% in the 2nd quarter. Shaker Financial Services LLC now owns 211,722 shares of the company's stock worth $10,133,000 after buying an additional 30,909 shares during the period. Brasada Capital Management LP bought a new position in Central Securities in the 1st quarter valued at $779,000. Blue Bell Private Wealth Management LLC boosted its holdings in Central Securities by 8.0% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 207,993 shares of the company's stock valued at $9,351,000 after purchasing an additional 15,352 shares during the period. Finally, Joel Isaacson & Co. LLC bought a new position in Central Securities in the 1st quarter valued at $678,000. 8.68% of the stock is owned by 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.

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