Mesabi Trust to Issue Quarterly Dividend of $0.05 (NYSE:MSB)

Mesabi Trust (NYSE:MSB) declared a quarterly dividend on Wednesday, July 15th. Investors of record on Thursday, July 30th will be paid a dividend of 0.05 per share by the mining company on Thursday, August 20th. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, July 30th.

Mesabi Trust has decreased its dividend by an average of 0.0%per year over the last three years.

Mesabi Trust Stock Performance

Shares of MSB stock opened at $25.55 on Wednesday. Mesabi Trust has a 52-week low of $23.56 and a 52-week high of $42.38. The firm has a market capitalization of $335.28 million, a PE ratio of 29.72 and a beta of 0.30. The stock has a fifty day simple moving average of $26.00 and a two-hundred day simple moving average of $30.75.

Mesabi Trust (NYSE:MSB) last posted its quarterly earnings results on Friday, June 12th. The mining company reported $0.08 EPS for the quarter. Mesabi Trust had a return on equity of 54.83% and a net margin of 75.32%.The business had revenue of $2.25 million for the quarter.

Hedge Funds Weigh In On Mesabi Trust

Several hedge funds have recently modified their holdings of the stock. Sei Investments Co. grew its holdings in shares of Mesabi Trust by 100.0% in the first quarter. Sei Investments Co. now owns 167,766 shares of the mining company’s stock valued at $5,285,000 after purchasing an additional 83,883 shares in the last quarter. CWA Asset Management Group LLC raised its stake in Mesabi Trust by 41.8% during the fourth quarter. CWA Asset Management Group LLC now owns 228,244 shares of the mining company’s stock valued at $8,790,000 after purchasing an additional 67,326 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in Mesabi Trust during the fourth quarter valued at $1,483,000. Horizon Kinetics Asset Management LLC raised its stake in Mesabi Trust by 0.9% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 3,027,698 shares of the mining company’s stock valued at $116,627,000 after purchasing an additional 28,372 shares in the last quarter. Finally, Mad River Investors lifted its position in Mesabi Trust by 8.4% during the first quarter. Mad River Investors now owns 321,546 shares of the mining company’s stock valued at $10,129,000 after purchasing an additional 24,897 shares during the last quarter.

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.