Mesabi Trust (NYSE:MSB) Short Interest Update

Mesabi Trust (NYSE:MSB) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 446,900 shares, a growth of 21.6% from the January 15th total of 367,500 shares. Currently, 3.4% of the shares of the company are sold short. Based on an average trading volume of 57,700 shares, the days-to-cover ratio is presently 7.7 days.

Mesabi Trust Stock Up 0.7 %

Shares of MSB stock traded up $0.18 during mid-day trading on Monday, reaching $25.32. The stock had a trading volume of 27,840 shares, compared to its average volume of 121,885. The firm has a market cap of $332.20 million, a PE ratio of 3.61 and a beta of 0.84. Mesabi Trust has a one year low of $15.93 and a one year high of $37.00. The firm’s 50 day simple moving average is $27.64 and its 200 day simple moving average is $24.17.

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

Mesabi Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th will be paid a dividend of $5.95 per share. This represents a $23.80 annualized dividend and a yield of 94.00%. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, January 30th. Mesabi Trust’s dividend payout ratio is currently 339.51%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MSB. Atlas Wealth Partners LLC acquired a new position in shares of Mesabi Trust in the 4th quarter valued at $202,000. Ameriprise Financial Inc. bought a new position in Mesabi Trust during the fourth quarter worth about $205,000. Heron Bay Capital Management bought a new stake in shares of Mesabi Trust in the fourth quarter worth about $204,000. Bank of Montreal Can acquired a new stake in shares of Mesabi Trust during the fourth quarter worth about $208,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of Mesabi Trust during the 4th quarter valued at about $233,000.

About Mesabi Trust

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.