Moors & Cabot Inc. Buys 102,520 Shares of Mesabi Trust (NYSE:MSB)

Moors & Cabot Inc. raised its stake in Mesabi Trust (NYSE:MSB) by 28.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 464,502 shares of the mining company’s stock after acquiring an additional 102,520 shares during the period. Moors & Cabot Inc. owned about 3.54% of Mesabi Trust worth $8,003,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MSB. Quent Capital LLC bought a new stake in shares of Mesabi Trust in the 1st quarter worth about $124,000. Steward Partners Investment Advisory LLC grew its stake in Mesabi Trust by 38.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,760 shares of the mining company’s stock worth $220,000 after buying an additional 2,961 shares during the last quarter. NBC Securities Inc. increased its holdings 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 buying an additional 860 shares in the last quarter. Pecaut & CO. raised its stake in shares of Mesabi Trust by 29.2% in the first quarter. Pecaut & CO. now owns 17,700 shares of the mining company’s stock valued at $312,000 after acquiring an additional 4,000 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Mesabi Trust in the 2nd quarter worth approximately $576,000.

Mesabi Trust Stock Performance

Shares of MSB stock opened at $21.03 on Tuesday. Mesabi Trust has a 52 week low of $15.93 and a 52 week high of $22.39. The stock has a market capitalization of $275.91 million, a PE ratio of 12.82 and a beta of 0.83. The stock’s fifty day moving average is $17.46 and its 200-day moving average is $17.49.

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

Mesabi Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were paid a dividend of $0.30 per share. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 5.71%. The ex-dividend date was Tuesday, July 30th. Mesabi Trust’s dividend payout ratio is 73.17%.

Analyst Upgrades and Downgrades

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

Mesabi Trust Company Profile

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.