Ritholtz Wealth Management Takes Position in Mesabi Trust $MSB

Ritholtz Wealth Management bought a new stake in shares of Mesabi Trust (NYSE:MSB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,737 shares of the mining company’s stock, valued at approximately $329,000. Ritholtz Wealth Management owned about 0.10% of Mesabi Trust as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. EagleClaw Capital Managment LLC raised its holdings in Mesabi Trust by 13.4% during the 1st quarter. EagleClaw Capital Managment LLC now owns 165,225 shares of the mining company’s stock valued at $4,494,000 after buying an additional 19,500 shares during the period. Bank of New York Mellon Corp raised its holdings in Mesabi Trust by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 77,213 shares of the mining company’s stock valued at $2,100,000 after buying an additional 1,127 shares during the period. Redhawk Wealth Advisors Inc. purchased a new stake in Mesabi Trust during the 2nd quarter valued at $818,000. Pecaut & CO. raised its holdings in Mesabi Trust by 2.9% during the 1st quarter. Pecaut & CO. now owns 33,809 shares of the mining company’s stock valued at $912,000 after buying an additional 966 shares during the period. Finally, Royal Bank of Canada raised its holdings in Mesabi Trust by 14.1% during the 1st quarter. Royal Bank of Canada now owns 26,662 shares of the mining company’s stock valued at $725,000 after buying an additional 3,303 shares during the period.

Analyst Upgrades and Downgrades

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

Mesabi Trust Trading Up 12.5%

Shares of Mesabi Trust stock opened at $35.17 on Tuesday. The firm has a market cap of $461.43 million, a P/E ratio of 4.97 and a beta of 0.55. Mesabi Trust has a 12 month low of $22.24 and a 12 month high of $37.00. The stock’s fifty day moving average price is $31.20 and its 200-day moving average price is $28.04.

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

Mesabi Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, October 30th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, October 30th. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.12. This represents a $1.36 dividend on an annualized basis and a yield of 3.9%. Mesabi Trust’s dividend payout ratio is 19.24%.

Mesabi Trust Company 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.