Central Securities (NYSE:CET) Hits New 12-Month High – Should You Buy?

Central Securities Co. (NYSE:CET) hit a new 52-week high on Wednesday . The company traded as high as $46.25 and last traded at $46.25, with a volume of 22296 shares. The stock had previously closed at $45.64.

Central Securities Stock Performance

The stock has a 50 day moving average price of $44.50 and a two-hundred day moving average price of $43.29.

Hedge Funds Weigh In On Central Securities

A number of hedge funds have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC bought a new position in shares of Central Securities in the 1st quarter valued at $35,000. Wolverine Asset Management LLC increased its stake in shares of Central Securities by 5,584.1% in the 2nd quarter. Wolverine Asset Management LLC now owns 4,661 shares of the company’s stock valued at $205,000 after purchasing an additional 4,579 shares during the last quarter. Evanson Asset Management LLC bought a new position in shares of Central Securities in the 1st quarter valued at $207,000. Wittenberg Investment Management Inc. bought a new position in shares of Central Securities in the 1st quarter valued at $217,000. Finally, Raymond James Trust N.A. bought a new position in shares of Central Securities in the 2nd quarter valued at $222,000. Institutional investors 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.