Mesabi Trust (NYSE:MSB) Shares Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC grew its stake in Mesabi Trust (NYSE:MSB) by 47.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,366 shares of the mining company’s stock after acquiring an additional 8,133 shares during the quarter. Steward Partners Investment Advisory LLC owned about 0.19% of Mesabi Trust worth $713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mad River Investors grew its holdings in shares of Mesabi Trust by 0.6% during 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 during the period. Atlas Wealth Partners LLC purchased a new position in shares of Mesabi Trust during the 4th quarter worth $202,000. Kingsview Wealth Management LLC purchased a new position in shares of Mesabi Trust during the 4th quarter worth $233,000. Apollon Wealth Management LLC purchased a new position in shares of Mesabi Trust during the 3rd quarter worth $344,000. Finally, EagleClaw Capital Managment LLC grew its holdings in shares of Mesabi Trust by 27.9% during the 3rd 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 period.

Analysts Set New Price Targets

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

Mesabi Trust Price Performance

Shares of Mesabi Trust stock opened at $24.35 on Wednesday. The business has a 50-day moving average of $27.50 and a 200 day moving average of $25.32. Mesabi Trust has a 12 month low of $15.93 and a 12 month high of $37.00. The stock has a market capitalization of $319.41 million, a price-to-earnings ratio of 3.47 and a beta of 0.76.

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

Mesabi Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, January 30th were issued a dividend of $5.95 per share. This represents a $23.80 dividend on an annualized basis and a yield of 97.76%. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, January 30th. Mesabi Trust’s dividend payout ratio (DPR) is 339.51%.

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.