Beddow Capital Management Inc. Trims Position in Mesabi Trust (NYSE:MSB)

Beddow Capital Management Inc. reduced its stake in shares of Mesabi Trust (NYSE:MSB) by 3.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 431,356 shares of the mining company’s stock after selling 17,310 shares during the quarter. Mesabi Trust comprises 5.0% of Beddow Capital Management Inc.’s portfolio, making the stock its 6th biggest holding. Beddow Capital Management Inc.’s holdings in Mesabi Trust were worth $12,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Horizon Kinetics Asset Management LLC grew its stake in shares of Mesabi Trust by 6.9% during 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 buying an additional 183,387 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of Mesabi Trust by 7.2% in the fourth quarter. Moors & Cabot Inc. now owns 533,942 shares of the mining company’s stock worth $15,009,000 after purchasing an additional 36,029 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Mesabi Trust in the fourth quarter worth about $988,000. Raymond James Financial Inc. bought a new stake in shares of Mesabi Trust in the fourth quarter worth about $560,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of 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 worth $713,000 after purchasing an additional 8,133 shares during the last quarter.

Mesabi Trust Price Performance

NYSE MSB opened at $27.20 on Friday. The stock has a market capitalization of $356.92 million, a PE ratio of 3.88 and a beta of 0.76. Mesabi Trust has a 1 year low of $15.93 and a 1 year high of $37.00. The business’s 50-day moving average is $27.32 and its 200 day moving average is $25.79.

Mesabi Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th were given a dividend of $5.95 per share. This represents a $23.80 annualized dividend and a yield of 87.49%. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, January 30th. Mesabi Trust’s payout ratio is presently 339.51%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Mesabi Trust from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th.

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.