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Central Securities Corporation Releases Report to Stockholders
Business Wire (Thu, 25-Apr 9:35 AM ET)
Central’s investment objective is long-term growth of capital. The fund invests primarily in common stocks, but may invest in bonds, convertible bonds, preferred stocks, convertible preferred stocks, warrants, options real estate, or short-term obligations of governments, banks and corporations. Managements philosophy is based on value investing combined with a policy of remaining generally fully invested. Management employs a variety of strategies and does not use a particular formula.
Central Securities trades on the AMEX stock market under the symbol CET.
As of May 14, 2024, CET stock price climbed to $41.96 with 18,999 million shares trading.
CET has a beta of 0.69, meaning it tends to be less sensitive to market movements. CET has a correlation of 0.60 to the broad based SPY ETF.
CET has a market cap of $1.19 billion. This is considered a Small Cap stock.
In the last 3 years, CET stock traded as high as $45.14 and as low as $33.01.
CET has underperformed the market in the last year with a price return of +27.4% while the SPY ETF gained +28.8%. However, in the short term, CET had mixed performance relative to the market. It has outperformed in the last 3 months, returning +9.3% vs +5.3% return in SPY. But in the last 2 weeks, CET shares have been beat by the market, returning +2.9% compared to an SPY return of +4.2%.
CET support price is $41.18 and resistance is $41.84 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CET stock will trade within this expected range on the day.