Central Securities (NYSE:CET) Reaches New 52-Week High – Time to Buy?

Central Securities Co. (NYSE:CET)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $46.64 and last traded at $46.60, with a volume of 3458 shares. The stock had previously closed at $46.47.

Central Securities Price Performance

The stock has a 50-day moving average of $44.94 and a 200 day moving average of $43.48.

Institutional Trading of Central Securities

A number of hedge funds and other institutional investors have recently made changes to their positions in CET. Evanson Asset Management LLC boosted its holdings in Central Securities by 12.4% in the second quarter. Evanson Asset Management LLC now owns 5,576 shares of the company’s stock valued at $245,000 after purchasing an additional 615 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Central Securities in the 1st quarter valued at about $35,000. Cetera Investment Advisers boosted its stake in shares of Central Securities by 3.2% in the second quarter. Cetera Investment Advisers now owns 37,700 shares of the company’s stock worth $1,660,000 after buying an additional 1,161 shares during the last quarter. FFT Wealth Management LLC grew its holdings in Central Securities by 5.9% during the second quarter. FFT Wealth Management LLC now owns 21,596 shares of the company’s stock worth $951,000 after acquiring an additional 1,194 shares during the period. Finally, Blue Bell Private Wealth Management LLC raised its position in Central Securities by 2.0% during the second quarter. Blue Bell Private Wealth Management LLC now owns 95,565 shares of the company’s stock valued at $4,207,000 after acquiring an additional 1,911 shares in the last quarter. Institutional investors and hedge funds own 8.68% of the company’s stock.

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.