Moors & Cabot Inc. Sells 14,310 Shares of Mesabi Trust $MSB

Moors & Cabot Inc. cut its holdings in Mesabi Trust (NYSE:MSB) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 194,203 shares of the mining company’s stock after selling 14,310 shares during the quarter. Moors & Cabot Inc. owned 1.48% of Mesabi Trust worth $4,653,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in Mesabi Trust in the first quarter valued at approximately $44,000. MAI Capital Management lifted its stake in Mesabi Trust by 14.6% in the first quarter. MAI Capital Management now owns 4,393 shares of the mining company’s stock valued at $119,000 after buying an additional 561 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Mesabi Trust in the second quarter valued at approximately $203,000. Atlas Wealth Partners LLC lifted its stake in Mesabi Trust by 11.5% in the first quarter. Atlas Wealth Partners LLC now owns 8,057 shares of the mining company’s stock valued at $217,000 after buying an additional 830 shares during the period. Finally, Ritholtz Wealth Management acquired a new position in Mesabi Trust in the second quarter valued at approximately $329,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Mesabi Trust in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

Mesabi Trust Trading Down 2.6%

NYSE MSB opened at $33.55 on Wednesday. The firm has a market capitalization of $440.18 million, a P/E ratio of 4.75 and a beta of 0.59. The business has a fifty day simple moving average of $31.95 and a 200 day simple moving average of $28.75. Mesabi Trust has a 12 month low of $22.55 and a 12 month high of $37.00.

Mesabi Trust (NYSE:MSB) last released its quarterly earnings results on Monday, September 15th. The mining company reported $0.36 EPS for the quarter. The business had revenue of $5.61 million during the quarter. Mesabi Trust had a return on equity of 230.41% and a net margin of 96.44%.

Mesabi Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, October 30th will be paid a $0.34 dividend. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, October 30th. This represents a $1.36 dividend on an annualized basis and a yield of 4.1%. Mesabi Trust’s dividend payout ratio is currently 19.24%.

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.