Central Securities (NYSE:CET) Sees Strong Trading Volume - Should You Buy?

Central Securities Co. (NYSE:CET - Get Free Report) shares saw an uptick in trading volume on Monday . 89,908 shares were traded during mid-day 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 business's 50-day moving average price is $46.65 and its 200 day moving average price is $46.45.

Insider Buying and Selling

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

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Institutional Investors Weigh In On Central Securities

Hedge funds have recently bought and sold shares of the stock. Armstrong Advisory Group Inc. bought a new position in shares of Central Securities during the fourth quarter worth approximately $25,000. Stolper Co bought a new position in Central Securities during the 4th quarter worth $203,000. Commonwealth Equity Services LLC increased its position in Central Securities by 14.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,780 shares of the company's stock worth $264,000 after buying an additional 751 shares during the period. Confluence Wealth Services Inc. lifted its holdings in shares of Central Securities by 4.3% during the fourth quarter. Confluence Wealth Services Inc. now owns 6,203 shares of the company's stock worth $294,000 after buying an additional 254 shares in the last quarter. Finally, Quad Cities Investment Group LLC boosted its position in shares of Central Securities by 4.3% in the fourth quarter. Quad Cities Investment Group LLC now owns 6,894 shares of the company's stock valued at $315,000 after acquiring an additional 286 shares during the period. 8.68% of the stock is currently owned by institutional investors and hedge funds.

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.