Central Securities (NYSE:CET) Sees Large Volume Increase – Should You Buy?

Shares of Central Securities Co. (NYSE:CET) saw unusually-strong trading volume on Monday . Approximately 89,908 shares were traded during trading, an increase of 247% from the previous session’s volume of 25,895 shares.The stock last traded at $45.63 and had previously closed at $45.30.

Central Securities Price Performance

The firm has a 50-day moving average price of $46.66 and a 200 day moving average price of $46.44.

Insider Buying and Selling at Central Securities

In related news, VP Andrew J. O’neill acquired 1,309 shares of Central Securities stock in a transaction that occurred on Monday, January 6th. The stock was acquired at an average price of $45.65 per share, for a total transaction of $59,755.85. Following the transaction, the vice president now directly owns 88,146 shares of the company’s stock, valued at $4,023,864.90. This trade represents a 1.51 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Hill acquired 700 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were bought at an average price of $45.87 per share, with a total value of $32,109.00. Following the completion of the purchase, the chief executive officer now owns 72,992 shares in the company, valued at $3,348,143.04. The trade was a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Central Securities

Hedge funds and other institutional investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. boosted its stake in Central Securities by 15.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 9,038 shares of the company’s stock valued at $414,000 after purchasing an additional 1,220 shares during the period. Douglass Winthrop Advisors LLC acquired a new stake in Central Securities in the third quarter worth approximately $2,490,000. HighTower Advisors LLC boosted its stake in Central Securities by 5.8% during the 3rd quarter. HighTower Advisors LLC now owns 34,258 shares of the company’s stock valued at $1,570,000 after purchasing an additional 1,879 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Central Securities by 4.1% in the 3rd quarter. Stifel Financial Corp now owns 22,280 shares of the company’s stock worth $1,021,000 after buying an additional 880 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. lifted its holdings in shares of Central Securities by 54.5% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 17,000 shares of the company’s stock valued at $777,000 after buying an additional 6,000 shares during the period. 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.