Mesabi Trust (NYSE:MSB) Shares Bought by Moors & Cabot Inc.

Moors & Cabot Inc. boosted its stake in shares of Mesabi Trust (NYSE:MSB) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 533,942 shares of the mining company’s stock after buying an additional 36,029 shares during the period. Mesabi Trust accounts for 0.7% of Moors & Cabot Inc.’s investment portfolio, making the stock its 25th largest position. Moors & Cabot Inc.’s holdings in Mesabi Trust were worth $15,009,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Atlas Wealth Partners LLC purchased a new stake in shares of Mesabi Trust in the 4th quarter valued at $202,000. Kingsview Wealth Management LLC acquired a new stake in Mesabi Trust during the 4th quarter worth approximately $233,000. Apollon Wealth Management LLC acquired a new stake in Mesabi Trust during the 3rd quarter worth approximately $344,000. Raymond James Financial Inc. purchased a new position in shares of Mesabi Trust during the 4th quarter worth approximately $560,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Mesabi Trust by 47.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 25,366 shares of the mining company’s stock worth $713,000 after buying an additional 8,133 shares in the last quarter.

Mesabi Trust Trading Up 1.1 %

Shares of Mesabi Trust stock opened at $24.35 on Wednesday. The business’s fifty day moving average price is $27.50 and its 200 day moving average price is $25.32. Mesabi Trust has a twelve month low of $15.93 and a twelve month high of $37.00. The stock has a market capitalization of $319.41 million, a P/E ratio of 3.47 and a beta of 0.76.

Mesabi Trust (NYSE:MSB) last posted its earnings results on Friday, December 13th. The mining company reported $5.97 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 disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th were given a dividend of $5.95 per share. This represents a $23.80 dividend on an annualized basis and a dividend yield of 97.76%. The ex-dividend date of this dividend was Thursday, January 30th. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.39. Mesabi Trust’s dividend payout ratio is 339.51%.

Analysts Set New Price Targets

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

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.