OFI Invest Asset Management Invests $988,000 in Mesabi Trust (NYSE:MSB)

OFI Invest Asset Management purchased a new position in shares of Mesabi Trust (NYSE:MSB - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,400 shares of the mining company's stock, valued at approximately $988,000. OFI Invest Asset Management owned 0.28% of Mesabi Trust 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 MSB. Steward Partners Investment Advisory LLC grew its holdings in Mesabi Trust by 47.2% in 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. Atlas Wealth Partners LLC acquired a new position in Mesabi Trust during the 4th quarter valued at about $202,000. Moors & Cabot Inc. raised its stake in shares of Mesabi Trust by 7.2% in the 3rd quarter. Moors & Cabot Inc. now owns 497,913 shares of the mining company's stock worth $11,278,000 after buying an additional 33,411 shares in the last quarter. Mad River Investors raised its holdings in shares of 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 in the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its stake 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 purchasing an additional 37,417 shares in the last quarter.

Mesabi Trust Price Performance

NYSE:MSB traded up $0.04 during trading hours on Thursday, reaching $25.66. The company's stock had a trading volume of 25,108 shares, compared to its average volume of 89,069. The company has a market cap of $336.59 million, a price-to-earnings ratio of 3.66 and a beta of 0.76. Mesabi Trust has a one year low of $15.93 and a one year high of $37.00. The business's 50-day moving average is $27.38 and its 200-day moving average is $25.37.

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Mesabi Trust (NYSE:MSB - Get Free Report) last released its quarterly earnings results on Friday, December 13th. The mining company reported $5.97 earnings per share (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 company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th were given a $5.95 dividend. This is a positive change from Mesabi Trust's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Thursday, January 30th. This represents a $23.80 dividend on an annualized basis and a dividend yield of 92.77%. Mesabi Trust's dividend payout ratio (DPR) is currently 339.51%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Mesabi Trust from a "hold" rating to a "strong-buy" rating in a research 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.