Beddow Capital Management Inc. reduced its position in Mesabi Trust (NYSE:MSB - Free Report) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 431,356 shares of the mining company's stock after selling 17,310 shares during the quarter. Mesabi Trust accounts for approximately 5.0% of Beddow Capital Management Inc.'s holdings, making the stock its 6th biggest holding. Beddow Capital Management Inc. owned approximately 3.29% of Mesabi Trust worth $12,125,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in MSB. Steward Partners Investment Advisory LLC grew its stake in shares of Mesabi Trust by 47.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,366 shares of the mining company's stock valued at $713,000 after buying an additional 8,133 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its position in Mesabi Trust by 6.9% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 2,843,010 shares of the mining company's stock valued at $79,917,000 after acquiring an additional 183,387 shares during the last quarter. Moors & Cabot Inc. grew its position in Mesabi Trust by 7.2% in the 4th quarter. Moors & Cabot Inc. now owns 533,942 shares of the mining company's stock valued at $15,009,000 after acquiring an additional 36,029 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Mesabi Trust in the fourth quarter worth $988,000. Finally, Atlas Wealth Partners LLC bought a new stake in shares of Mesabi Trust during the fourth quarter worth $202,000.
Analyst Ratings Changes
Separately, StockNews.com raised shares of Mesabi Trust from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 16th.
Check Out Our Latest Stock Report on MSB
Mesabi Trust Price Performance
Shares of NYSE:MSB traded up $0.05 during trading on Wednesday, reaching $27.82. 19,948 shares of the company were exchanged, compared to its average volume of 38,161. The business's fifty day simple moving average is $27.37 and its 200-day simple moving average is $26.06. Mesabi Trust has a 12-month low of $15.93 and a 12-month high of $37.00. The firm has a market capitalization of $365.00 million, a PE ratio of 3.97 and a beta of 0.76.
Mesabi Trust Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th were issued a dividend of $5.95 per share. This is an increase from Mesabi Trust's previous quarterly dividend of $0.39. This represents a $23.80 annualized dividend and a yield of 85.55%. The ex-dividend date was Thursday, January 30th. Mesabi Trust's dividend payout ratio (DPR) is presently 339.51%.
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.
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