Central Securities Co. (NYSE:CET) is Shaker Financial Services LLC's Largest Position

Key Points

• Shaker Financial Services LLC increased its stake in Central Securities Co. by 7.9%, holding 180,813 shares valued at approximately $8.13 million, making it the largest position in the fund's portfolio.
• Central Securities announced a quarterly dividend of $0.25 per share, which translates to an annualized dividend of $1.00 and a yield of 2.1%.
• The stock price of Central Securities has recently traded between a 12-month low of $40.24 and a high of $49.51, with a recent opening price of $48.35.

Shaker Financial Services LLC grew its stake in Central Securities Co. (NYSE:CET - Free Report) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,813 shares of the company's stock after buying an additional 13,172 shares during the quarter. Central Securities accounts for about 3.2% of Shaker Financial Services LLC's investment portfolio, making the stock its biggest holding. Shaker Financial Services LLC owned about 0.62% of Central Securities worth $8,129,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Citadel Advisors LLC bought a new stake in Central Securities during the fourth quarter worth $1,404,000. Pathstone Holdings LLC boosted its stake in shares of Central Securities by 13.2% in the 4th quarter. Pathstone Holdings LLC now owns 158,649 shares of the company's stock valued at $7,241,000 after purchasing an additional 18,451 shares in the last quarter. Almitas Capital LLC acquired a new stake in Central Securities during the 4th quarter worth approximately $705,000. Blue Bell Private Wealth Management LLC raised its holdings in Central Securities by 8.0% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 207,993 shares of the company's stock worth $9,351,000 after purchasing an additional 15,352 shares during the last quarter. Finally, Joel Isaacson & Co. LLC bought a new stake in shares of Central Securities in the 1st quarter valued at $678,000. Institutional investors and hedge funds own 8.68% of the company's stock.

Central Securities Stock Performance

CET stock traded up $0.21 during midday trading on Friday, reaching $48.90. 26,509 shares of the company's stock traded hands, compared to its average volume of 25,239. Central Securities Co. has a 52 week low of $40.24 and a 52 week high of $49.51. The firm's fifty day moving average price is $47.85 and its 200-day moving average price is $46.32.

Central Securities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Tuesday, June 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, June 17th.

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.