StockNews.com Lowers Mesabi Trust (NYSE:MSB) to Hold

StockNews.com cut shares of Mesabi Trust (NYSE:MSB) from a buy rating to a hold rating in a report issued on Monday morning.

Mesabi Trust Stock Up 23.9 %

NYSE:MSB opened at $20.77 on Monday. The business’s 50-day simple moving average is $17.28 and its two-hundred day simple moving average is $17.42. The stock has a market cap of $272.50 million, a PE ratio of 12.66 and a beta of 0.83. Mesabi Trust has a 52 week low of $15.93 and a 52 week high of $22.39.

Mesabi Trust (NYSE:MSB) last issued its earnings results on Thursday, June 13th. The mining company reported $0.27 earnings per share (EPS) for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%. The firm had revenue of $6.25 million for the quarter.

Mesabi Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.78%. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.29. The ex-dividend date was Tuesday, July 30th. Mesabi Trust’s payout ratio is 73.17%.

Institutional Investors Weigh In On Mesabi Trust

Several large investors have recently made changes to their positions in the company. NBC Securities Inc. increased its holdings in shares of Mesabi Trust by 5.4% in the first quarter. NBC Securities Inc. now owns 16,670 shares of the mining company’s stock worth $295,000 after purchasing an additional 860 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Mesabi Trust by 38.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,760 shares of the mining company’s stock worth $220,000 after purchasing an additional 2,961 shares during the last quarter. Beddow Capital Management Inc. increased its holdings in shares of Mesabi Trust by 0.7% in the second quarter. Beddow Capital Management Inc. now owns 462,315 shares of the mining company’s stock worth $7,966,000 after purchasing an additional 3,028 shares during the last quarter. Pecaut & CO. increased its holdings in shares of Mesabi Trust by 22.6% in the second quarter. Pecaut & CO. now owns 21,700 shares of the mining company’s stock worth $371,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Mad River Investors increased its stake in Mesabi Trust by 2.0% during the second quarter. Mad River Investors now owns 291,646 shares of the mining company’s stock worth $5,025,000 after acquiring an additional 5,809 shares during the last quarter.

Mesabi Trust Company Profile

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