NBC Securities Inc. Buys 34,032 Shares of Mesabi Trust (NYSE:MSB)

NBC Securities Inc. grew its stake in Mesabi Trust (NYSE:MSB - Free Report) by 113,440.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,062 shares of the mining company's stock after acquiring 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 quarter.

Other institutional investors have also recently modified their holdings of the company. Horizon Kinetics Asset Management LLC increased its stake in 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 purchasing an additional 183,387 shares in the last quarter. Moors & Cabot Inc. increased its position in shares of Mesabi Trust by 7.2% during the fourth 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 in 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 bought a new position in Mesabi Trust in the 4th quarter valued at approximately $2,243,000. Finally, OFI Invest Asset Management purchased a new stake in Mesabi Trust during the 4th quarter valued at $988,000.

Mesabi Trust Stock Performance

Shares of MSB stock traded up $0.40 during trading hours on Friday, reaching $26.59. The company had a trading volume of 19,768 shares, compared to its average volume of 62,179. The business has a fifty day moving average price of $26.41 and a 200-day moving average price of $27.03. Mesabi Trust has a one year low of $15.93 and a one year high of $37.00. The firm has a market cap of $348.80 million, a PE ratio of 3.79 and a beta of 0.56.

Mesabi Trust (NYSE:MSB - Get Free Report) last announced its 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 net margin of 93.80% and a return on equity of 231.09%.

Mesabi Trust Announces Dividend

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

Analysts Set New Price Targets

Separately, Wall Street Zen cut 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.