Sei Investments Co. Boosts Stock Holdings in Mesabi Trust $MSB

Sei Investments Co. grew its holdings in Mesabi Trust (NYSE:MSB) by 100.0% in the 1st quarter, HoldingsChannel reports. The firm owned 167,766 shares of the mining company’s stock after buying an additional 83,883 shares during the quarter. Sei Investments Co.’s holdings in Mesabi Trust were worth $5,285,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Quattro Advisors LLC bought a new position in shares of Mesabi Trust during the fourth quarter valued at approximately $31,000. NewEdge Advisors LLC raised its position in shares of Mesabi Trust by 57.3% in the 2nd quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock worth $39,000 after acquiring an additional 587 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Mesabi Trust in the 1st quarter worth $44,000. Farther Finance Advisors LLC lifted its stake in shares of Mesabi Trust by 73.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,491 shares of the mining company’s stock worth $57,000 after purchasing an additional 630 shares during the last quarter. Finally, Barclays PLC bought a new stake in Mesabi Trust during the fourth quarter valued at about $58,000.

Analyst Upgrades and Downgrades

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

Mesabi Trust Stock Up 0.9%

NYSE:MSB opened at $22.54 on Wednesday. The stock has a market capitalization of $295.66 million, a price-to-earnings ratio of 26.20 and a beta of 0.32. Mesabi Trust has a 52 week low of $21.60 and a 52 week high of $42.38. The firm has a 50 day moving average of $24.54 and a 200 day moving average of $29.05.

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

Mesabi Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, July 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. Mesabi Trust’s dividend payout ratio (DPR) is presently 23.26%.

Mesabi Trust 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.