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

Key Points

• Shares of Central Securities Co. reached a new 52-week high of $51.41, with recent trading occurring at $51.40.
• Institutional investors have significantly increased their stakes, with Farther Finance Advisors LLC boosting its position by 763.5% in the first quarter.
• Currently, 8.68% of Central Securities' stock is owned by institutional investors, indicating growing interest from large investment firms.

Shares of Central Securities Co. (NYSE:CET - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $51.41 and last traded at $51.40, with a volume of 12274 shares. The stock had previously closed at $50.99.

Central Securities Trading Up 1.4%

The firm has a fifty day simple moving average of $49.46 and a 200-day simple moving average of $46.93.

Institutional Investors Weigh In On Central Securities

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Almitas Capital LLC increased its holdings in Central Securities by 1.9% during the 1st quarter. Almitas Capital LLC now owns 15,735 shares of the company's stock worth $707,000 after purchasing an additional 299 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Central Securities by 1.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,294 shares of the company's stock valued at $733,000 after acquiring an additional 300 shares during the last quarter. Accel Wealth Management increased its holdings in shares of Central Securities by 8.1% in the 2nd quarter. Accel Wealth Management now owns 7,482 shares of the company's stock valued at $358,000 after acquiring an additional 562 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Central Securities by 763.5% in the 1st quarter. Farther Finance Advisors LLC now owns 639 shares of the company's stock valued at $29,000 after acquiring an additional 565 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Central Securities by 1.4% in the 1st quarter. Cetera Investment Advisers now owns 42,258 shares of the company's stock valued at $1,900,000 after acquiring an additional 576 shares during the last quarter. 8.68% of the stock is currently owned by hedge funds and other 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.