Janney Montgomery Scott LLC Sells 450 Shares of Mesabi Trust (NYSE:MSB)

Janney Montgomery Scott LLC cut its holdings in shares of Mesabi Trust (NYSE:MSB) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,980 shares of the mining company’s stock after selling 450 shares during the period. Janney Montgomery Scott LLC’s holdings in Mesabi Trust were worth $281,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Horizon Kinetics Asset Management LLC lifted its stake in Mesabi Trust by 1.4% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company’s stock valued at $60,240,000 after acquiring an additional 37,417 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of Mesabi Trust by 7.2% during the third quarter. Moors & Cabot Inc. now owns 497,913 shares of the mining company’s stock valued at $11,278,000 after purchasing an additional 33,411 shares in the last quarter. EagleClaw Capital Managment LLC boosted its holdings in Mesabi Trust by 27.9% during the third quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock worth $3,316,000 after purchasing an additional 31,900 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in Mesabi Trust during the third quarter worth about $344,000. Finally, Mad River Investors grew its position in Mesabi Trust by 0.6% in the 4th quarter. Mad River Investors now owns 294,901 shares of the mining company’s stock worth $8,290,000 after purchasing an additional 1,832 shares in the last quarter.

Mesabi Trust Trading Up 0.2 %

MSB stock opened at $25.33 on Wednesday. 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 $332.33 million, a P/E ratio of 3.61 and a beta of 0.84. The stock’s fifty day simple moving average is $27.74 and its two-hundred day simple moving average is $24.00.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings results on Friday, December 13th. The mining company reported $5.97 earnings per share for the quarter. Mesabi Trust had a net margin of 93.80% and a return on equity of 231.09%.

Mesabi Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th will be given a dividend of $5.95 per share. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.39. This represents a $23.80 dividend on an annualized basis and a dividend yield of 93.96%. The ex-dividend date of this dividend is Thursday, January 30th. Mesabi Trust’s dividend payout ratio is currently 339.52%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Mesabi Trust from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th.

Mesabi Trust Company 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.