Mesabi Trust (NYSE:MSB) Shares Bought by Moors & Cabot Inc.

Moors & Cabot Inc. boosted its stake in Mesabi Trust (NYSE:MSB) by 7.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 497,913 shares of the mining company’s stock after acquiring an additional 33,411 shares during the period. Moors & Cabot Inc. owned 3.80% of Mesabi Trust worth $11,278,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC acquired a new stake in shares of Mesabi Trust during the 3rd quarter valued at approximately $159,000. Apollon Wealth Management LLC acquired a new position in Mesabi Trust during the third quarter worth $344,000. Pecaut & CO. boosted its position in 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 in the last quarter. OFI Invest Asset Management purchased a new stake in Mesabi Trust during the second quarter worth $576,000. Finally, EagleClaw Capital Managment LLC grew its holdings in Mesabi Trust by 27.9% in the third quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock valued at $3,316,000 after purchasing an additional 31,900 shares during the last quarter.

Analysts Set New Price Targets

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

Mesabi Trust Stock Up 1.8 %

Shares of MSB stock traded up $0.47 on Wednesday, reaching $26.21. 580 shares of the stock were exchanged, compared to its average volume of 27,739. Mesabi Trust has a 1-year low of $15.93 and a 1-year high of $26.98. The stock has a market cap of $343.88 million, a P/E ratio of 19.41 and a beta of 0.83. The firm has a 50 day moving average of $24.08 and a two-hundred day moving average of $19.69.

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

Mesabi Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, October 30th will be given a dividend of $0.39 per share. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.30. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date is Wednesday, October 30th. Mesabi Trust’s payout ratio is presently 115.56%.

About Mesabi Trust

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