Mesabi Trust (MSB) To Go Ex-Dividend on January 30th

Mesabi Trust (NYSE:MSB) announced a quarterly dividend on Friday, January 16th. Shareholders of record on Friday, January 30th will be paid a dividend of 0.26 per share by the mining company on Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, January 30th.

Mesabi Trust has increased its dividend payment by an average of 0.2%per year over the last three years.

Mesabi Trust Trading Down 1.8%

MSB stock traded down $0.62 on Wednesday, hitting $33.53. The company’s stock had a trading volume of 11,368 shares, compared to its average volume of 64,332. The firm has a 50 day moving average of $35.92 and a two-hundred day moving average of $32.96. Mesabi Trust has a 1 year low of $22.55 and a 1 year high of $42.38. The stock has a market cap of $439.85 million, a price-to-earnings ratio of 25.59 and a beta of 0.57.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Friday, December 12th. The mining company reported $0.21 earnings per share for the quarter. Mesabi Trust had a net margin of 82.80% and a return on equity of 79.30%. The business had revenue of $3.39 million during the quarter.

Institutional Investors Weigh In On Mesabi Trust

A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in shares of Mesabi Trust by 14.1% during the 1st quarter. Royal Bank of Canada now owns 26,662 shares of the mining company’s stock valued at $725,000 after acquiring an additional 3,303 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Mesabi Trust in the first quarter worth about $44,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Mesabi Trust in the 2nd quarter worth approximately $203,000. Ritholtz Wealth Management acquired a new position in Mesabi Trust in the second quarter worth $329,000. Finally, Geode Capital Management LLC acquired a new position in shares of Mesabi Trust in the 2nd quarter valued at about $265,000.

About Mesabi Trust

Mesabi Trust (NYSE: MSB) is a passive royalty trust that holds royalty interests in iron ore properties located on Minnesota’s Mesabi Iron Range. The trust does not engage in mining operations directly but receives royalty payments based on the volume of iron ore shipped from the underlying properties. These payments are derived from production of iron ore concentrate and taconite pellets sold to domestic and international steel producers.

Established in December 2011, Mesabi Trust was formed through the consolidation of royalty interests contributed by several mining companies.