Raymond James & Associates Trims Holdings in Mesabi Trust (NYSE:MSB)

Raymond James & Associates lessened its stake in Mesabi Trust (NYSE:MSB) by 8.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 25,102 shares of the mining company’s stock after selling 2,223 shares during the period. Raymond James & Associates’ holdings in Mesabi Trust were worth $514,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Moors & Cabot Inc. boosted its position in Mesabi Trust by 30.5% in the 3rd quarter. Moors & Cabot Inc. now owns 211,238 shares of the mining company’s stock valued at $4,240,000 after buying an additional 49,330 shares during the period. Beddow Capital Management Inc. boosted its position in shares of Mesabi Trust by 4.4% during the 3rd quarter. Beddow Capital Management Inc. now owns 456,473 shares of the mining company’s stock worth $9,161,000 after acquiring an additional 19,154 shares in the last quarter. NBC Securities Inc. purchased a new position in Mesabi Trust in the third quarter valued at approximately $352,000. EagleClaw Capital Managment LLC grew its position in shares of Mesabi Trust by 53.2% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 34,400 shares of the mining company’s stock valued at $690,000 after buying an additional 11,950 shares during the last quarter. Finally, Acorn Wealth Advisors LLC purchased a new position in shares of Mesabi Trust during the third quarter worth about $221,000.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Mesabi Trust from a “hold” rating to a “buy” rating in a research report on Friday.

Mesabi Trust Stock Up 0.3 %

Shares of NYSE:MSB opened at $17.31 on Friday. Mesabi Trust has a one year low of $16.68 and a one year high of $23.94. The company has a 50-day simple moving average of $17.84 and a 200-day simple moving average of $19.13.

Mesabi Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 6.70%. The ex-dividend date is Monday, April 29th. Mesabi Trust’s dividend payout ratio is presently 172.09%.

About Mesabi Trust

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