Lido Advisors LLC bought a new stake in Mesabi Trust (NYSE:MSB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 79,779 shares of the mining company's stock, valued at approximately $2,243,000. Lido Advisors LLC owned 0.61% of Mesabi Trust at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mad River Investors raised its holdings in shares of Mesabi Trust by 0.6% in the fourth quarter. Mad River Investors now owns 294,901 shares of the mining company's stock valued at $8,290,000 after purchasing an additional 1,832 shares during the last quarter. Kingsview Wealth Management LLC acquired a new stake in Mesabi Trust in the fourth quarter valued at approximately $233,000. Atlas Wealth Partners LLC acquired a new position in shares of Mesabi Trust during the fourth quarter worth $202,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of 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 acquiring an additional 8,133 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Mesabi Trust in the 4th quarter worth about $560,000.
Mesabi Trust Stock Performance
MSB traded down $0.15 during midday trading on Tuesday, reaching $27.56. 6,058 shares of the company were exchanged, compared to its average volume of 38,993. Mesabi Trust has a one year low of $15.93 and a one year high of $37.00. The company's fifty day moving average price is $26.75 and its 200 day moving average price is $26.95. The company has a market cap of $361.59 million, a price-to-earnings ratio of 3.93 and a beta of 0.70.
Mesabi Trust (NYSE:MSB - Get Free Report) last posted its earnings results on Thursday, April 24th. The mining company reported $0.46 earnings per share (EPS) for the quarter. Mesabi Trust had a return on equity of 231.09% and a net margin of 93.80%. The firm had revenue of $6.85 million for the quarter.
Mesabi Trust Announces Dividend
The business also recently declared a dividend, which will be paid on Tuesday, May 20th. Investors of record on Thursday, May 1st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a yield of 8.05%. Mesabi Trust's payout ratio is 31.50%.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded shares of Mesabi Trust from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th.
Read Our Latest Research Report on Mesabi Trust
About Mesabi Trust
(
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.
Further Reading
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