Central Securities (NYSE:CET) Sees Unusually-High Trading Volume – Still a Buy?

Central Securities Co. (NYSE:CET) shares saw strong trading volume on Monday . 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 Stock Performance

The stock has a 50 day simple moving average of $46.69 and a two-hundred day simple moving average of $46.47.

Insiders Place Their Bets

In other news, CEO John C. Hill acquired 700 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was acquired at an average price of $45.87 per share, for a total transaction of $32,109.00. Following the completion of the transaction, the chief executive officer now owns 72,992 shares in the company, valued at approximately $3,348,143.04. The trade was a 0.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew J. O’neill bought 1,309 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were acquired at an average price 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 in the company, 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. Insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Central Securities

A number of hedge funds have recently bought and sold shares of CET. Confluence Wealth Services Inc. increased its position in shares of Central Securities by 4.3% in the fourth quarter. Confluence Wealth Services Inc. now owns 6,203 shares of the company’s stock valued at $294,000 after buying an additional 254 shares in the last quarter. Quad Cities Investment Group LLC grew its stake in Central Securities by 4.3% in the 4th 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. Essex Financial Services Inc. increased its holdings in Central Securities by 4.3% in the 4th quarter. Essex Financial Services Inc. now owns 7,151 shares of the company’s stock worth $327,000 after acquiring an additional 295 shares in the last quarter. King Luther Capital Management Corp raised its position in Central Securities by 4.3% during the fourth quarter. King Luther Capital Management Corp now owns 9,217 shares of the company’s stock worth $421,000 after acquiring an additional 381 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. lifted its holdings in Central Securities by 0.5% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 82,237 shares of the company’s stock valued at $3,757,000 after purchasing an additional 386 shares in the last quarter. Hedge funds and other 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.