NBC Securities Inc. boosted its holdings in Mesabi Trust (NYSE:MSB - Free Report) by 113,440.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,062 shares of the mining company's stock after purchasing an additional 34,032 shares during the quarter. NBC Securities Inc. owned 0.26% of Mesabi Trust worth $926,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of MSB. Bank of America Corp DE raised its stake 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 purchasing an additional 213,155 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its stake in Mesabi Trust by 6.9% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 2,843,010 shares of the mining company's stock worth $79,917,000 after purchasing an additional 183,387 shares in the last quarter. Lido Advisors LLC acquired a new stake in Mesabi Trust in the 4th quarter worth about $2,243,000. OFI Invest Asset Management acquired a new stake in Mesabi Trust in the 4th quarter worth about $988,000. Finally, Moors & Cabot Inc. raised its stake in Mesabi Trust by 7.2% in the 4th quarter. Moors & Cabot Inc. now owns 533,942 shares of the mining company's stock worth $15,009,000 after purchasing an additional 36,029 shares in the last quarter.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen cut shares of Mesabi Trust from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th.
Check Out Our Latest Research Report on MSB
Mesabi Trust Stock Up 0.9%
Shares of NYSE:MSB traded up $0.24 during midday trading on Friday, hitting $26.43. The stock had a trading volume of 32,529 shares, compared to its average volume of 41,176. The company's 50-day moving average price is $26.39 and its 200-day moving average price is $27.04. The company has a market capitalization of $346.76 million, a P/E ratio of 3.77 and a beta of 0.56. Mesabi Trust has a fifty-two week low of $15.93 and a fifty-two week high of $37.00.
Mesabi Trust (NYSE:MSB - Get Free Report) last issued its earnings results on Thursday, April 24th. The mining company reported $0.46 EPS for the quarter. The company had revenue of $6.85 million during the quarter. Mesabi Trust had a net margin of 93.80% and a return on equity of 231.09%.
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 $0.56 dividend. This represents a dividend yield of 8.05%. The ex-dividend date of this dividend was Wednesday, April 30th. Mesabi Trust's payout ratio is presently 31.50%.
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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