Mesabi Trust (NYSE:MSB) Position Boosted by Mad River Investors

Mad River Investors lifted its position in shares of Mesabi Trust (NYSE:MSB) by 0.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 294,901 shares of the mining company’s stock after purchasing an additional 1,832 shares during the quarter. Mesabi Trust comprises approximately 3.9% of Mad River Investors’ holdings, making the stock its 5th largest holding. Mad River Investors’ holdings in Mesabi Trust were worth $8,290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quent Capital LLC acquired a new position in shares of Mesabi Trust during the third quarter worth about $159,000. Apollon Wealth Management LLC acquired a new position in Mesabi Trust during the 3rd quarter worth approximately $344,000. EagleClaw Capital Managment LLC boosted its holdings in Mesabi Trust by 27.9% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock worth $3,316,000 after acquiring an additional 31,900 shares during the period. Moors & Cabot Inc. grew its position in Mesabi Trust by 7.2% in the third quarter. Moors & Cabot Inc. now owns 497,913 shares of the mining company’s stock valued at $11,278,000 after acquiring an additional 33,411 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its stake in shares of Mesabi Trust by 1.4% during the third quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company’s stock valued at $60,240,000 after purchasing an additional 37,417 shares during the period.

Analyst Ratings Changes

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

Mesabi Trust Stock Performance

NYSE:MSB opened at $28.73 on Tuesday. The stock has a market cap of $376.87 million, a price-to-earnings ratio of 4.10 and a beta of 0.85. Mesabi Trust has a one year low of $15.93 and a one year high of $29.72. The business’s 50-day simple moving average is $27.25 and its 200 day simple moving average is $22.82.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Friday, December 13th. The mining company reported $5.97 earnings per share (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 business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th will be given a $5.95 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $23.80 annualized dividend and a dividend yield of 82.85%. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.39. Mesabi Trust’s payout ratio is presently 22.25%.

Mesabi Trust Company 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.