Mesabi Trust (NYSE:MSB) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Mesabi Trust (NYSE:MSB) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Mesabi Trust Stock Down 5.4%

Shares of Mesabi Trust stock opened at $24.31 on Friday. The stock’s fifty day moving average is $26.48 and its 200-day moving average is $27.01. The firm has a market capitalization of $318.96 million, a PE ratio of 3.47 and a beta of 0.56. Mesabi Trust has a 12-month low of $15.93 and a 12-month high of $37.00.

Mesabi Trust (NYSE:MSB) last posted its quarterly earnings results on Thursday, June 12th. The mining company reported $0.28 earnings per share for the quarter. The firm had revenue of $4.74 million for the quarter. Mesabi Trust had a return on equity of 231.09% and a net margin of 93.80%.

Mesabi Trust Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, May 20th. Investors of record on Thursday, May 1st were given a dividend of $0.56 per share. This represents a yield of 8.05%. The ex-dividend date of this dividend was Wednesday, April 30th. Mesabi Trust’s payout ratio is 31.46%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. acquired a new position in Mesabi Trust during the fourth quarter valued at $205,000. Bank of America Corp DE raised its position in Mesabi Trust by 613.0% during the fourth quarter. Bank of America Corp DE now owns 247,925 shares of the mining company’s stock valued at $6,969,000 after buying an additional 213,155 shares during the period. Raymond James Financial Inc. purchased a new position in Mesabi Trust in the fourth quarter valued at about $560,000. Steward Partners Investment Advisory LLC grew its stake in Mesabi Trust by 47.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,366 shares of the mining company’s stock valued at $713,000 after purchasing an additional 8,133 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC grew its stake in Mesabi Trust by 6.9% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 2,843,010 shares of the mining company’s stock valued at $79,917,000 after purchasing an additional 183,387 shares in the last quarter.

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.