Mesabi Trust (NYSE:MSB) Upgraded at StockNews.com

StockNews.com upgraded shares of Mesabi Trust (NYSE:MSB) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Mesabi Trust Trading Down 2.4 %

NYSE MSB opened at $16.89 on Friday. The stock has a fifty day simple moving average of $17.81 and a 200-day simple moving average of $19.08. Mesabi Trust has a twelve month low of $16.68 and a twelve month high of $23.72.

Mesabi Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 6.87%. The ex-dividend date is Monday, April 29th. Mesabi Trust’s dividend payout ratio (DPR) is presently 172.09%.

Institutional Trading of Mesabi Trust

Several institutional investors have recently added to or reduced their stakes in MSB. Steward Partners Investment Advisory LLC raised its holdings in shares of Mesabi Trust by 38.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,760 shares of the mining company’s stock valued at $220,000 after buying an additional 2,961 shares during the period. Acorn Wealth Advisors LLC acquired a new position in Mesabi Trust in the 3rd quarter valued at about $221,000. Pecaut & CO. purchased a new stake in Mesabi Trust during the fourth quarter worth about $280,000. Essex Financial Services Inc. increased its stake in Mesabi Trust by 16.1% during the fourth quarter. Essex Financial Services Inc. now owns 14,037 shares of the mining company’s stock worth $287,000 after purchasing an additional 1,943 shares during the period. Finally, NBC Securities Inc. lifted its position in shares of Mesabi Trust by 5.4% during the first quarter. NBC Securities Inc. now owns 16,670 shares of the mining company’s stock worth $295,000 after purchasing an additional 860 shares in the last quarter.

Mesabi Trust Company Profile

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