Bank of America Corp DE Grows Stock Position in Mesabi Trust (NYSE:MSB)

Bank of America Corp DE grew its holdings in shares of Mesabi Trust (NYSE:MSB - Free Report) by 613.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 247,925 shares of the mining company's stock after purchasing an additional 213,155 shares during the quarter. Bank of America Corp DE owned approximately 1.89% of Mesabi Trust worth $6,969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Horizon Kinetics Asset Management LLC grew its stake in shares of Mesabi Trust by 6.9% during 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 period. Lido Advisors LLC bought a new position in shares of Mesabi Trust during the 4th quarter valued at approximately $2,243,000. OFI Invest Asset Management bought a new position in shares of Mesabi Trust during the 4th quarter valued at approximately $988,000. Moors & Cabot Inc. grew its stake in shares of Mesabi Trust by 7.2% during 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 period. Finally, Raymond James Financial Inc. bought a new position in shares of Mesabi Trust during the 4th quarter valued at approximately $560,000.

Mesabi Trust Stock Down 0.8%

MSB stock traded down $0.20 during midday trading on Friday, hitting $25.11. The company's stock had a trading volume of 38,018 shares, compared to its average volume of 40,635. 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 $329.44 million, a price-to-earnings ratio of 3.58 and a beta of 0.70. The company has a 50 day moving average of $26.48 and a two-hundred day moving average of $27.02.

Mesabi Trust (NYSE:MSB - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The mining company reported $0.46 earnings per share for the quarter. The business had revenue of $6.85 million during the quarter. Mesabi Trust had a return on equity of 231.09% and a net margin of 93.80%.

Mesabi Trust Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, May 20th. Stockholders of record on Thursday, May 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a dividend yield of 8.05%. Mesabi Trust's dividend payout ratio is currently 31.50%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Mesabi Trust from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th.

Mesabi Trust 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.