OFI Invest Asset Management Takes $988,000 Position in Mesabi Trust (NYSE:MSB)

OFI Invest Asset Management purchased a new stake in shares of Mesabi Trust (NYSE:MSB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 36,400 shares of the mining company’s stock, valued at approximately $988,000. OFI Invest Asset Management owned about 0.28% of Mesabi Trust at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MSB. Atlas Wealth Partners LLC acquired a new stake in Mesabi Trust in the 4th quarter worth approximately $202,000. Kingsview Wealth Management LLC acquired a new stake in Mesabi Trust in the 4th quarter worth approximately $233,000. Apollon Wealth Management LLC acquired a new stake in Mesabi Trust in the 3rd quarter worth approximately $344,000. Raymond James Financial Inc. acquired a new stake in Mesabi Trust in the 4th quarter worth approximately $560,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Mesabi Trust by 47.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 25,366 shares of the mining company’s stock worth $713,000 after purchasing an additional 8,133 shares during the last quarter.

Analyst Ratings Changes

Separately, StockNews.com upgraded Mesabi Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th.

Mesabi Trust Stock Performance

MSB opened at $24.31 on Monday. Mesabi Trust has a twelve month low of $15.93 and a twelve month high of $37.00. The firm has a market cap of $318.99 million, a P/E ratio of 3.47 and a beta of 0.76. The business has a 50 day moving average price of $27.58 and a 200 day moving average price of $25.28.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings results on Friday, December 13th. The mining company reported $5.97 EPS for the quarter. Mesabi Trust had a return on equity of 231.09% and a net margin of 93.80%.

Mesabi Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th were issued a dividend of $5.95 per share. The ex-dividend date of this dividend was Thursday, January 30th. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.39. This represents a $23.80 dividend on an annualized basis and a dividend yield of 97.89%. Mesabi Trust’s payout ratio is 339.51%.

Mesabi Trust Profile

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