Mesabi Trust (NYSE:MSB) Short Interest Up 21.6% in January

Mesabi Trust (NYSE:MSB - Get Free Report) was the target of a large growth in short interest in 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. Based on an average daily trading volume, of 57,700 shares, the short-interest ratio is presently 7.7 days. Currently, 3.4% of the company's stock are sold short.

Analyst Upgrades and Downgrades

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

Mesabi Trust Stock Performance

MSB traded up $2.64 during mid-day trading on Wednesday, reaching $29.09. 189,521 shares of the stock were exchanged, compared to its average volume of 98,376. The company has a 50 day moving average price of $27.64 and a two-hundred day moving average price of $24.32. Mesabi Trust has a 1 year low of $15.93 and a 1 year high of $37.00. The stock has a market capitalization of $381.62 million, a PE ratio of 4.15 and a beta of 0.84.

Mesabi Trust (NYSE:MSB - Get Free Report) last posted its quarterly earnings data on Friday, December 13th. The mining company reported $5.97 earnings per share 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, January 30th will be paid a $5.95 dividend. This is an increase from Mesabi Trust's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $23.80 annualized dividend and a yield of 81.82%. Mesabi Trust's dividend payout ratio is presently 339.52%.

Institutional Trading of Mesabi Trust

Several hedge funds have recently made changes to their positions in the company. Atlas Wealth Partners LLC bought a new position in Mesabi Trust in the 4th quarter worth approximately $202,000. Heron Bay Capital Management purchased a new stake in Mesabi Trust in the fourth quarter valued at approximately $204,000. Ameriprise Financial Inc. bought a new stake in Mesabi Trust during the fourth quarter worth about $205,000. Bank of Montreal Can bought a new stake in shares of Mesabi Trust in the 4th quarter worth approximately $208,000. Finally, Vivaldi Capital Management LP purchased a new stake in Mesabi Trust during the fourth quarter valued at about $229,000.

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.