Beddow Capital Management Inc. Boosts Stock Position in Mesabi Trust (NYSE:MSB)

Beddow Capital Management Inc. lifted its position in Mesabi Trust (NYSE:MSB) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 462,315 shares of the mining company’s stock after buying an additional 3,028 shares during the period. Mesabi Trust makes up 3.5% of Beddow Capital Management Inc.’s holdings, making the stock its 7th largest position. Beddow Capital Management Inc. owned about 3.52% of Mesabi Trust worth $7,966,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Moors & Cabot Inc. raised its position in shares of Mesabi Trust by 28.3% during the second quarter. Moors & Cabot Inc. now owns 464,502 shares of the mining company’s stock worth $8,003,000 after purchasing an additional 102,520 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Mesabi Trust during the second quarter worth $576,000. Mad River Investors raised its position in shares of Mesabi Trust by 9.7% during the first quarter. Mad River Investors now owns 285,837 shares of the mining company’s stock worth $5,059,000 after purchasing an additional 25,290 shares during the period. Quent Capital LLC acquired a new stake in shares of Mesabi Trust during the first quarter worth $124,000. Finally, Pecaut & CO. raised its position in shares of Mesabi Trust by 22.6% during the second quarter. Pecaut & CO. now owns 21,700 shares of the mining company’s stock worth $371,000 after purchasing an additional 4,000 shares during the period.

Mesabi Trust Stock Performance

MSB opened at $21.51 on Friday. The company has a market cap of $282.21 million, a PE ratio of 13.12 and a beta of 0.83. The stock has a 50-day moving average of $17.86 and a 200-day moving average of $17.62. Mesabi Trust has a 52-week low of $15.93 and a 52-week high of $22.39.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Thursday, September 5th. The mining company reported $0.41 earnings per share for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%. The firm had revenue of $6.49 million during the quarter.

Mesabi Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, July 30th were issued a $0.30 dividend. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.20 annualized dividend and a yield of 5.58%. Mesabi Trust’s dividend payout ratio is 73.17%.

Analyst Ratings Changes

Separately, StockNews.com lowered Mesabi Trust from a “buy” rating to a “hold” rating in a research report on Monday, September 9th.

About Mesabi Trust

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was founded in 1961 and is based in New York, New York.