Moors & Cabot Inc. Acquires 36,029 Shares of Mesabi Trust (NYSE:MSB)

Moors & Cabot Inc. lifted its stake in Mesabi Trust (NYSE:MSB - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 533,942 shares of the mining company's stock after purchasing an additional 36,029 shares during the quarter. Mesabi Trust accounts for approximately 0.7% of Moors & Cabot Inc.'s holdings, making the stock its 25th biggest position. Moors & Cabot Inc. owned approximately 4.07% of Mesabi Trust worth $15,009,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MSB. Horizon Kinetics Asset Management LLC raised its position in Mesabi Trust by 1.4% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company's stock worth $60,240,000 after buying an additional 37,417 shares during the last quarter. Mad River Investors boosted its stake in Mesabi Trust by 0.6% in the 4th quarter. Mad River Investors now owns 294,901 shares of the mining company's stock worth $8,290,000 after purchasing an additional 1,832 shares during the period. EagleClaw Capital Managment LLC raised its holdings in shares of Mesabi Trust by 27.9% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company's stock worth $3,316,000 after acquiring an additional 31,900 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Mesabi Trust during the 4th quarter valued at $988,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in 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 valued at $713,000 after buying an additional 8,133 shares during the period.

Analyst Upgrades and Downgrades

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

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Mesabi Trust Price Performance

Shares of MSB stock opened at $24.35 on Wednesday. Mesabi Trust has a 1-year low of $15.93 and a 1-year high of $37.00. The stock's 50-day moving average is $27.50 and its 200 day moving average is $25.32. The company has a market cap of $319.41 million, a P/E ratio of 3.47 and a beta of 0.76.

Mesabi Trust (NYSE:MSB - Get Free Report) last issued its quarterly earnings results 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th were given a $5.95 dividend. 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 dividend on an annualized basis and a dividend yield of 97.76%. Mesabi Trust's payout ratio is 339.51%.

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.

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