Mesabi Trust $MSB is Mad River Investors’ 7th Largest Position

Mad River Investors grew its position in shares of Mesabi Trust (NYSE:MSB) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 321,546 shares of the mining company’s stock after acquiring an additional 24,897 shares during the quarter. Mesabi Trust comprises 3.6% of Mad River Investors’ portfolio, making the stock its 7th biggest position. Mad River Investors’ holdings in Mesabi Trust were worth $10,129,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. CWA Asset Management Group LLC increased its holdings in Mesabi Trust by 41.8% in the 4th quarter. CWA Asset Management Group LLC now owns 228,244 shares of the mining company’s stock valued at $8,790,000 after purchasing an additional 67,326 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its position in shares of Mesabi Trust by 0.9% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 3,027,698 shares of the mining company’s stock valued at $116,627,000 after purchasing an additional 28,372 shares in the last quarter. Quattro Advisors LLC acquired a new stake in Mesabi Trust in the fourth quarter valued at $31,000. EagleClaw Capital Managment LLC grew its holdings in Mesabi Trust by 1.1% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 167,425 shares of the mining company’s stock worth $4,901,000 after acquiring an additional 1,800 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Mesabi Trust in the third quarter valued at about $212,000.

Mesabi Trust Stock Down 3.3%

Shares of MSB opened at $23.94 on Tuesday. Mesabi Trust has a 52-week low of $23.45 and a 52-week high of $42.38. The firm has a market capitalization of $314.08 million, a PE ratio of 27.84 and a beta of 0.29. The firm has a 50-day moving average price of $26.53 and a 200 day moving average price of $31.50.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Friday, June 12th. The mining company reported $0.08 EPS for the quarter. Mesabi Trust had a return on equity of 54.83% and a net margin of 75.32%.The firm had revenue of $2.25 million for the quarter.

Mesabi Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Thursday, April 30th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Thursday, April 30th. Mesabi Trust’s payout ratio is presently 111.63%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Mesabi Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Mesabi Trust Company Profile

Mesabi Trust (NYSE: MSB) is a passive royalty trust that holds royalty interests in iron ore properties located on Minnesota’s Mesabi Iron Range. The trust does not engage in mining operations directly but receives royalty payments based on the volume of iron ore shipped from the underlying properties. These payments are derived from production of iron ore concentrate and taconite pellets sold to domestic and international steel producers.

Established in December 2011, Mesabi Trust was formed through the consolidation of royalty interests contributed by several mining companies.