Central Securities Corporation $CET Stock: Shaker Financial Services LLC Increases Position

Key Points

• Shaker Financial Services increased its Central Securities position by 195.2% in the third quarter, holding 79,373 shares valued at approximately $4.4 million, or 0.27% of CET.
• Institutional investors own 8.68% of Central Securities, while company insiders hold 9.10%; CEO John C. Hill also purchased 500 shares for about $28,185.
• CET shares recently fell 0.9% to $55.59, trading between a 52-week range of $47.82 and $57.39.

Shaker Financial Services LLC lifted its position in shares of Central Securities Corporation (NYSEAMERICAN:CET - Free Report) by 195.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,373 shares of the company's stock after purchasing an additional 52,489 shares during the period. Central Securities accounts for about 1.5% of Shaker Financial Services LLC's holdings, making the stock its 17th biggest position. Shaker Financial Services LLC owned approximately 0.27% of Central Securities worth $4,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont bought a new stake in Central Securities during the second quarter worth $29,000. IFP Advisors Inc purchased a new stake in shares of Central Securities during the 2nd quarter valued at $42,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Central Securities during the 2nd quarter valued at $92,000. Robotti Robert purchased a new stake in shares of Central Securities during the 2nd quarter valued at $230,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Central Securities during the 2nd quarter worth $269,000. Hedge funds and other institutional investors own 8.68% of the company's stock.

Central Securities Stock Down 0.9%

Shares of Central Securities stock traded down $0.48 on Wednesday, reaching $55.59. 9,529 shares of the company traded hands, compared to its average volume of 36,188. The company has a 50 day moving average of $55.37 and a 200 day moving average of $53.48. Central Securities Corporation has a 52 week low of $47.82 and a 52 week high of $57.39.

Insider Activity

In other Central Securities news, CEO John C. Hill bought 500 shares of the firm's stock in a transaction on Tuesday, October 6th. The shares were acquired at an average cost of $56.37 per share, for a total transaction of $28,185.00. Following the purchase, the chief executive officer directly owned 78,101 shares of the company's stock, valued at $4,402,553.37. The trade was a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.10% of the company's stock.

Central Securities Company Profile

Central Securities Corporation is a closed-end investment company listed on the NYSE American under the symbol CET. The company invests in a portfolio of securities with the objective of achieving long-term capital appreciation. As a closed-end fund, it raises capital through its permanent share structure and invests in publicly traded and, at times, privately held companies.

The fund's portfolio may include common stocks, convertible securities and other investments across a range of industries and market sectors.

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