Brasada Capital Management LP Takes $6.14 Million Position in Central Securities Corporation $CET

Key Points

• Brasada Capital Management acquired 117,002 shares of Central Securities in the second quarter, worth approximately $6.14 million and representing a 0.40% stake.
• Other institutional investors also adjusted their positions, and hedge funds and institutional investors collectively owned 8.68% of Central Securities.
• Central Securities shares opened at $54.59, near the top of their 52-week range of $47.82 to $55.99. The company also paid a $0.31-per-share dividend, though the reported 117.0% yield appears anomalous.

Brasada Capital Management LP acquired a new stake in Central Securities Corporation (NYSEAMERICAN:CET - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 117,002 shares of the company's stock, valued at approximately $6,137,000. Brasada Capital Management LP owned 0.40% of Central Securities at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CET. Royal Bank of Canada lifted its stake in Central Securities by 3.9% in the 1st quarter. Royal Bank of Canada now owns 66,549 shares of the company's stock worth $2,993,000 after purchasing an additional 2,521 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of Central Securities by 1.8% in the second quarter. Raymond James Financial Inc. now owns 305,304 shares of the company's stock worth $14,612,000 after purchasing an additional 5,511 shares during the period. Bank of America Corp DE bought a new position in shares of Central Securities in the second quarter worth $64,000. Osaic Holdings Inc. raised its position in shares of Central Securities by 15.1% in the second quarter. Osaic Holdings Inc. now owns 10,052 shares of the company's stock worth $481,000 after buying an additional 1,322 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Central Securities by 10.2% in the third quarter. First Trust Advisors LP now owns 49,671 shares of the company's stock worth $2,552,000 after buying an additional 4,586 shares in the last quarter. Hedge funds and other institutional investors own 8.68% of the company's stock.

Central Securities Price Performance

NYSEAMERICAN:CET opened at $54.59 on Friday. Central Securities Corporation has a 52-week low of $47.82 and a 52-week high of $55.99. The stock has a fifty day moving average of $53.46 and a 200 day moving average of $52.49.

Central Securities Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a dividend yield of 117.0%.

Central Securities 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. Central Securities Corp. was founded on October 1, 1929 and is based in New York City.

Want to see what other hedge funds are holding CET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Central Securities Corporation (NYSEAMERICAN:CET - Free Report).

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