Mesabi Trust (NYSE:MSB) insider Robin M. Radke bought 498 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average cost of $29.50 per share, with a total value of $14,691.00. Following the completion of the purchase, the insider now owns 94 shares of the company’s stock, valued at approximately $2,773. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of MSB stock traded down $0.42 on Wednesday, hitting $29.11. 31,360 shares of the stock were exchanged, compared to its average volume of 67,392. Mesabi Trust has a fifty-two week low of $22.88 and a fifty-two week high of $32.67.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Tuesday, April 30th were given a dividend of $0.89 per share. The ex-dividend date was Monday, April 29th. This represents a $3.56 annualized dividend and a dividend yield of 12.23%.
Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in shares of Mesabi Trust by 13.6% during the fourth quarter. Acadian Asset Management LLC now owns 135,303 shares of the mining company’s stock worth $3,206,000 after buying an additional 16,164 shares during the period. Whittier Trust Co. boosted its position in Mesabi Trust by 312.5% during the fourth quarter. Whittier Trust Co. now owns 3,300 shares of the mining company’s stock valued at $78,000 after purchasing an additional 2,500 shares during the last quarter. Wedbush Securities Inc. boosted its position in Mesabi Trust by 9.6% during the first quarter. Wedbush Securities Inc. now owns 12,370 shares of the mining company’s stock valued at $362,000 after purchasing an additional 1,080 shares during the last quarter. Morgan Stanley boosted its position in Mesabi Trust by 11.7% during the third quarter. Morgan Stanley now owns 112,126 shares of the mining company’s stock valued at $2,972,000 after purchasing an additional 11,702 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. acquired a new position in Mesabi Trust during the fourth quarter valued at approximately $497,000. 19.19% of the stock is owned by institutional investors.
About Mesabi Trust
Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was founded in 1919 and is based in New York, New York.
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