Mesabi Trust (NYSE:MSB) Short Interest Update

Mesabi Trust (NYSE:MSB) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 446,900 shares, an increase of 21.6% from the January 15th total of 367,500 shares. Approximately 3.4% of the shares of the stock are sold short. Based on an average daily volume of 57,700 shares, the days-to-cover ratio is currently 7.7 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Mesabi Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th.

Mesabi Trust Stock Performance

MSB stock traded up $0.18 during midday trading on Monday, reaching $25.32. 27,840 shares of the company traded hands, compared to its average volume of 121,885. The firm has a market capitalization of $332.20 million, a price-to-earnings ratio of 3.61 and a beta of 0.84. Mesabi Trust has a 52-week low of $15.93 and a 52-week high of $37.00. The business has a 50 day moving average of $27.61 and a 200-day moving average of $24.22.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings results on Friday, December 13th. The mining company reported $5.97 earnings per share (EPS) for the quarter. Mesabi Trust had a return on equity of 231.09% and a net margin of 93.80%.

Mesabi Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, January 30th will be given a $5.95 dividend. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.39. This represents a $23.80 dividend on an annualized basis and a yield of 94.00%. The ex-dividend date of this dividend is Thursday, January 30th. Mesabi Trust’s dividend payout ratio is 339.51%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Atlas Wealth Partners LLC bought a new position in Mesabi Trust in the 4th quarter valued at $202,000. Ameriprise Financial Inc. bought a new stake in Mesabi Trust during the 4th quarter valued at about $205,000. Heron Bay Capital Management purchased a new stake in shares of Mesabi Trust in the fourth quarter valued at approximately $204,000. Bank of Montreal Can purchased a new position in Mesabi Trust during the 4th quarter worth $208,000. Finally, Vivaldi Capital Management LP bought a new stake in Mesabi Trust during the 4th quarter valued at $229,000.

About Mesabi Trust

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.