The PNC Financial Services Group Inc. Lowers Holdings in Mesabi Trust (NYSE:MSB)

The PNC Financial Services Group Inc. trimmed its position in Mesabi Trust (NYSE:MSB) by 14.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,780 shares of the mining company’s stock after selling 1,530 shares during the quarter. The PNC Financial Services Group Inc. owned 0.07% of Mesabi Trust worth $264,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MSB. SFE Investment Counsel lifted its holdings in shares of Mesabi Trust by 2.6% in the 4th quarter. SFE Investment Counsel now owns 347,190 shares of the mining company’s stock worth $9,725,000 after buying an additional 8,737 shares during the period. Vivaldi Capital Management LLC purchased a new stake in shares of Mesabi Trust in the 4th quarter worth $244,000. Carnegie Capital Asset Management LLC raised its position in shares of Mesabi Trust by 62.2% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 17,600 shares of the mining company’s stock worth $494,000 after acquiring an additional 6,750 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Mesabi Trust by 1,303.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,316 shares of the mining company’s stock worth $177,000 after acquiring an additional 5,866 shares in the last quarter. Finally, Mad River Investors raised its position in shares of Mesabi Trust by 3.2% in the 1st quarter. Mad River Investors now owns 187,750 shares of the mining company’s stock worth $5,648,000 after acquiring an additional 5,750 shares in the last quarter.

Separately, TheStreet raised Mesabi Trust from a “c” rating to a “b-” rating in a research report on Wednesday, May 12th.

MSB opened at $37.24 on Friday. The company has a market cap of $488.59 million, a price-to-earnings ratio of 26.41 and a beta of 1.18. Mesabi Trust has a 12 month low of $15.02 and a 12 month high of $39.61. The stock has a fifty day moving average of $36.14.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 20th. Stockholders of record on Friday, April 30th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 9.56%. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, April 29th.

About Mesabi Trust

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was incorporated in 1961 and is based in New York, New York.

Featured Article: What is intrinsic value?

Institutional Ownership by Quarter for Mesabi Trust (NYSE:MSB)

Receive News & Ratings for Mesabi Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mesabi Trust and related companies with MarketBeat.com's FREE daily email newsletter.