Moors & Cabot Inc. Sells 325,429 Shares of Mesabi Trust (NYSE:MSB)

Moors & Cabot Inc. trimmed its holdings in shares of Mesabi Trust (NYSE:MSB - Free Report) by 60.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 208,513 shares of the mining company's stock after selling 325,429 shares during the period. Moors & Cabot Inc. owned approximately 1.59% of Mesabi Trust worth $5,672,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Mad River Investors lifted its holdings in shares of Mesabi Trust by 0.5% during the first quarter. Mad River Investors now owns 296,457 shares of the mining company's stock valued at $8,064,000 after purchasing an additional 1,556 shares during the last quarter. Bank of America Corp DE raised its holdings in Mesabi Trust by 613.0% in the 4th quarter. Bank of America Corp DE now owns 247,925 shares of the mining company's stock worth $6,969,000 after acquiring an additional 213,155 shares during the last quarter. Lido Advisors LLC purchased a new position in Mesabi Trust in the 4th quarter worth approximately $2,243,000. Bank of New York Mellon Corp raised its holdings in Mesabi Trust by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 77,213 shares of the mining company's stock worth $2,100,000 after acquiring an additional 1,127 shares during the last quarter. Finally, NBC Securities Inc. raised its holdings in Mesabi Trust by 113,440.0% in the 1st quarter. NBC Securities Inc. now owns 34,062 shares of the mining company's stock worth $926,000 after acquiring an additional 34,032 shares during the last quarter.

Mesabi Trust Price Performance

NYSE MSB traded up $0.01 during mid-day trading on Friday, reaching $29.27. The stock had a trading volume of 41,527 shares, compared to its average volume of 52,363. Mesabi Trust has a 1 year low of $15.93 and a 1 year high of $37.00. The stock has a market cap of $383.96 million, a PE ratio of 4.11 and a beta of 0.54. The company has a fifty day moving average price of $25.76 and a 200 day moving average price of $26.58.

Mesabi Trust (NYSE:MSB - Get Free Report) last posted its earnings results on Thursday, June 12th. The mining company reported $0.28 EPS for the quarter. Mesabi Trust had a net margin of 96.23% and a return on equity of 233.00%. The business had revenue of $4.74 million during the quarter.

Mesabi Trust Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st will be given a $0.12 dividend. This represents a yield of 187.0%. The ex-dividend date of this dividend is Wednesday, July 30th. Mesabi Trust's payout ratio is 6.74%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Mesabi Trust from a "buy" rating to a "hold" rating in a report on Saturday, June 14th.

About Mesabi Trust

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.