Ritholtz Wealth Management Acquires New Holdings in Mesabi Trust $MSB

Ritholtz Wealth Management acquired a new stake in shares of Mesabi Trust (NYSE:MSB) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 13,737 shares of the mining company’s stock, valued at approximately $329,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. EagleClaw Capital Managment LLC boosted its position in Mesabi Trust by 13.4% during the first quarter. EagleClaw Capital Managment LLC now owns 165,225 shares of the mining company’s stock valued at $4,494,000 after purchasing an additional 19,500 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Mesabi Trust by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 77,213 shares of the mining company’s stock worth $2,100,000 after acquiring an additional 1,127 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in Mesabi Trust in the second quarter worth about $818,000. Pecaut & CO. boosted its holdings in Mesabi Trust by 2.9% in the first quarter. Pecaut & CO. now owns 33,809 shares of the mining company’s stock worth $912,000 after acquiring an additional 966 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Mesabi Trust by 14.1% in the first quarter. Royal Bank of Canada now owns 26,662 shares of the mining company’s stock worth $725,000 after acquiring an additional 3,303 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Mesabi Trust in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mesabi Trust has an average rating of “Buy”.

Mesabi Trust Stock Up 12.5%

Shares of NYSE:MSB opened at $35.17 on Tuesday. Mesabi Trust has a 52-week low of $22.24 and a 52-week high of $37.00. The stock has a market cap of $461.43 million, a price-to-earnings ratio of 4.97 and a beta of 0.55. The business has a 50-day moving average price of $31.20 and a 200-day moving average price of $28.04.

Mesabi Trust (NYSE:MSB) last announced its quarterly earnings data on Monday, September 15th. The mining company reported $0.36 earnings per share (EPS) for the quarter. Mesabi Trust had a return on equity of 230.41% and a net margin of 96.44%.The firm had revenue of $5.61 million during the quarter.

Mesabi Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, October 30th will be paid a $0.34 dividend. The ex-dividend date is Thursday, October 30th. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.12. This represents a $1.36 annualized dividend and a dividend yield of 3.9%. Mesabi Trust’s dividend payout ratio (DPR) is 19.24%.

Mesabi Trust Profile

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.