Raymond James Financial Inc. bought a new stake in Mesabi Trust (NYSE:MSB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,927 shares of the mining company's stock, valued at approximately $560,000. Raymond James Financial Inc. owned about 0.15% of Mesabi Trust at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Atlas Wealth Partners LLC acquired a new stake in Mesabi Trust during the 4th quarter worth $202,000. Heron Bay Capital Management bought a new stake in Mesabi Trust in the 4th quarter valued at $204,000. Bank of Montreal Can bought a new stake in Mesabi Trust during the 4th quarter worth about $208,000. Kingsview Wealth Management LLC bought a new stake in Mesabi Trust during the 4th quarter worth about $233,000. Finally, Steward Partners Investment Advisory LLC lifted its position in Mesabi Trust by 47.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 25,366 shares of the mining company's stock worth $713,000 after buying an additional 8,133 shares in the last quarter.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered shares of Mesabi Trust from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th.
Read Our Latest Analysis on MSB
Mesabi Trust Stock Performance
Shares of NYSE MSB traded up $0.26 during trading hours on Monday, hitting $25.19. 88,221 shares of the stock were exchanged, compared to its average volume of 39,866. The company has a market cap of $330.51 million, a PE ratio of 3.59 and a beta of 0.70. The company's fifty day simple moving average is $26.74 and its two-hundred day simple moving average is $27.01. Mesabi Trust has a 1-year low of $15.93 and a 1-year high of $37.00.
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 company also recently declared a dividend, which will be paid on Tuesday, May 20th. Investors of record on Thursday, May 1st will be given a dividend of $0.56 per share. This represents a dividend yield of 8.05%. The ex-dividend date of this dividend is Wednesday, April 30th. Mesabi Trust's payout ratio is currently 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.
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