Horizon Kinetics Asset Management LLC grew its position in Mesabi Trust (NYSE:MSB - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,843,010 shares of the mining company's stock after acquiring an additional 183,387 shares during the period. Mesabi Trust comprises 1.0% of Horizon Kinetics Asset Management LLC's portfolio, making the stock its 11th largest holding. Horizon Kinetics Asset Management LLC owned 21.67% of Mesabi Trust worth $79,917,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Atlas Wealth Partners LLC purchased a new stake in Mesabi Trust in the 4th quarter valued at approximately $202,000. Kingsview Wealth Management LLC acquired a new stake in shares of Mesabi Trust in the 4th quarter valued at approximately $233,000. Apollon Wealth Management LLC purchased a new stake in shares of Mesabi Trust in the third quarter valued at approximately $344,000. Raymond James Financial Inc. acquired a new position in Mesabi Trust during the fourth quarter worth $560,000. Finally, Steward Partners Investment Advisory LLC raised its position in Mesabi Trust by 47.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,366 shares of the mining company's stock worth $713,000 after acquiring an additional 8,133 shares in the last quarter.
Mesabi Trust Stock Performance
MSB traded down $0.81 on Friday, hitting $27.20. 44,833 shares of the company were exchanged, compared to its average volume of 38,009. Mesabi Trust has a fifty-two week low of $15.93 and a fifty-two week high of $37.00. The firm has a market capitalization of $356.92 million, a P/E ratio of 3.88 and a beta of 0.76. The business's fifty day moving average is $27.31 and its 200 day moving average is $25.72.
Mesabi Trust Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, January 30th were issued a dividend of $5.95 per share. The ex-dividend date was Thursday, January 30th. This is a boost from Mesabi Trust's previous quarterly dividend of $0.39. This represents a $23.80 annualized dividend and a yield of 87.49%. Mesabi Trust's payout ratio is currently 339.51%.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of Mesabi Trust from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 16th.
Read Our Latest Stock Report on Mesabi Trust
Mesabi Trust Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Mesabi Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mesabi Trust wasn't on the list.
While Mesabi Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
