Mesabi Trust $MSB is Mad River Investors’ 7th Largest Position

Mad River Investors raised its holdings in Mesabi Trust (NYSE:MSB) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 321,546 shares of the mining company’s stock after purchasing an additional 24,897 shares during the quarter. Mesabi Trust accounts for about 3.6% of Mad River Investors’ holdings, making the stock its 7th biggest position. Mad River Investors owned approximately 2.45% of Mesabi Trust worth $10,129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MSB. Quattro Advisors LLC purchased a new position in shares of Mesabi Trust during the 4th quarter worth approximately $31,000. NewEdge Advisors LLC boosted its stake in shares of Mesabi Trust by 57.3% in the second quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock valued at $39,000 after buying an additional 587 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Mesabi Trust during the first quarter worth $44,000. Farther Finance Advisors LLC grew its holdings in Mesabi Trust by 73.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,491 shares of the mining company’s stock worth $57,000 after acquiring an additional 630 shares during the period. Finally, Barclays PLC purchased a new position in Mesabi Trust in the fourth quarter worth $58,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Mesabi Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Mesabi Trust Stock Performance

Mesabi Trust stock opened at $23.94 on Tuesday. The stock’s fifty day moving average is $26.53 and its two-hundred day moving average is $31.50. Mesabi Trust has a fifty-two week low of $23.45 and a fifty-two week high of $42.38. The firm has a market capitalization of $314.08 million, a price-to-earnings ratio of 27.84 and a beta of 0.29.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Friday, June 12th. The mining company reported $0.08 earnings per share (EPS) for the quarter. Mesabi Trust had a net margin of 75.32% and a return on equity of 54.83%. The company had revenue of $2.25 million during the quarter.

Mesabi Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Thursday, April 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.0%. Mesabi Trust’s dividend payout ratio is presently 111.63%.

Mesabi Trust Company Profile

Mesabi Trust (NYSE: MSB) is a passive royalty trust that holds royalty interests in iron ore properties located on Minnesota’s Mesabi Iron Range. The trust does not engage in mining operations directly but receives royalty payments based on the volume of iron ore shipped from the underlying properties. These payments are derived from production of iron ore concentrate and taconite pellets sold to domestic and international steel producers.

Established in December 2011, Mesabi Trust was formed through the consolidation of royalty interests contributed by several mining companies.