Redhawk Wealth Advisors Inc. Takes Position in Mesabi Trust $MSB

Key Points

• Redhawk Wealth Advisors Inc. has acquired a new position in Mesabi Trust, purchasing 34,132 shares valued at approximately $818,000, which represents 0.26% of the mining company's stock.
• Mesabi Trust recently cut its dividend to $0.12 per share, resulting in an annualized dividend yield of 1.6% and a dividend payout ratio of 6.79%.
• The stock price of Mesabi Trust has declined by 0.8%, with a current trading price at $30.64 and a market cap of $401.93 million.

Redhawk Wealth Advisors Inc. purchased a new position in Mesabi Trust (NYSE:MSB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 34,132 shares of the mining company's stock, valued at approximately $818,000. Redhawk Wealth Advisors Inc. owned approximately 0.26% of Mesabi Trust at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE raised its stake in Mesabi Trust by 613.0% during the fourth 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 in the last quarter. NBC Securities Inc. boosted its holdings in Mesabi Trust by 113,440.0% in the first quarter. NBC Securities Inc. now owns 34,062 shares of the mining company's stock valued at $926,000 after acquiring an additional 34,032 shares during the last quarter. EagleClaw Capital Managment LLC boosted its holdings in Mesabi Trust by 13.4% during the first quarter. EagleClaw Capital Managment LLC now owns 165,225 shares of the mining company's stock worth $4,494,000 after buying an additional 19,500 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Mesabi Trust during the first quarter worth about $357,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Mesabi Trust during the 1st quarter valued at about $251,000.

Mesabi Trust Stock Performance

NYSE:MSB traded up $0.34 during trading hours on Friday, reaching $30.76. The stock had a trading volume of 26,861 shares, compared to its average volume of 26,426. The stock has a market cap of $403.61 million, a P/E ratio of 4.35 and a beta of 0.53. Mesabi Trust has a 12-month low of $21.31 and a 12-month high of $37.00. The stock has a 50 day simple moving average of $30.03 and a 200 day simple moving average of $27.36.

Mesabi Trust (NYSE:MSB - Get Free Report) last posted its quarterly earnings data on Monday, September 15th. The mining company reported $0.36 earnings per share (EPS) for the quarter. Mesabi Trust had a return on equity of 230.41% and a net margin of 96.44%.The company had revenue of $5.61 million during the quarter.

Mesabi Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, July 30th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Wednesday, July 30th. Mesabi Trust's dividend payout ratio is 6.79%.

Analysts Set New Price Targets

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

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.